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Polychain Capital Leads web3 Developer Platform Fleek’s $25 Million Raise

Web3 developer platform Fleek closed a $25 million Series A raise led by Polychain Capital. 

Digital Currency Group, North Island Ventures and Coinbase Ventures are also among the investors who participated in the round, according to a company release. 

Founded in 2018, Fleek’s business model has gone through several iterations. In 2020, it rebranded from Terminal to Fleek — offering users an easy way to build, deploy and host websites and apps on the filesharing protocol InterPlanetary File System (IPFS). 

The startup previously raised $5 million in seed funding. 

Fleek now offers hosting and storage services on several web3 protocols. The platform currently leverages web2 providers, such as AWS and Cloudflare, to provide these services. 

(By Kari McMahon)

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