TechFlow news, EthStorage, a project offering data storage solutions for Ethereum layer-2 networks, has raised $7 million in seed funding at a $100 million valuation. The round was led by dao5, with participation from SevenX Ventures, Foresight Venture, DragonRoark, Yunji Capital, Avant Blockchain Capital, Future Money Group, Gate Ventures, Vitalbridge, Galxe, GeekCartel, Rebase D. Ventures, W3.Hitchhiker, and other angel investors.
Notably, EthStorage is a layer-2 solution providing programmable dynamic data storage based on Ethereum's data availability technology. The team has previously received grants twice from the Ethereum Foundation’s Ecosystem Support Program (ESP), for research into data availability sampling and proofs for dynamic data storage on layer-2 networks.
EthStorage also won first place in the Super Demo event at the Community Ethereum Development Conference (EDCON) held in Montenegro in 2023. All funds raised will be used to expand the team, support research, develop products, enhance branding, and attract more ecosystem partners to adopt EthStorage.
