Arweave announces new funding from Andreessen Horowitz, USV, and Coinbase Ventures
TL;DR — The founding Arweave team has raised a further $8.3 million in funding from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures. These funds will be used to further Arweave community ecosystem initiatives.
The permaweb has grown rapidly since its inception: over one million pieces of data have been permanently stored and almost 200 apps have been built! Now, it is time to propel the permaweb to the next level.
We are excited to announce that we have raised $8.3 million in additional funding from Andreessen Horowitz and USV, and new funding from Coinbase Ventures. We are thrilled to be able to re-invest these funds directly into Arweave’s community: from builders to archivers and beyond.
To be clear: This money is for you, the Arweave community. The founding team now sees it as our primary role to dispense these funds carefully to the community, in order to foster growth, usage, and decentralisation of the network. As such, we will be launching a series of major initiatives to drive this mission. Today, we’re proudly sharing the first two of these initiatives with you all:
- We are excited to introduce Arweave Grants, a programme through which any community member can submit proposals for projects, startups, DAOs, and even marketing initiatives, to further the adoption of the Arweave protocol. The Arweave founding team will then provide funds and technical support to any exciting, viable protocol adoption-driving activities.
- We are also launching Arweave Boost, an offering for any project, startup, or company looking to boost their growth with the help of reliable, truly permanent data storage. We are offering up to $50,000 in storage, access to the advice of core team members, as well as mentorship and feedback from our amazing network of community members, including representatives from Andreessen Horowitz and Union Square Ventures.
These are extremely exciting times. Arweave Boost and Arweave Grants are just the first in a number of programmes we will be launching over the coming months and years to expand our community, and to support exciting projects based on Arweave.
In following this approach, we deepen our commitment to empowering the Arweave community to use the permaweb in novel and meaningful ways. We look forward to seeing what you’ll build!