Blockchain-attached Storage platform, Functionland secured $1.1 Millon in Seed funding


Functionland, an Ontario-based builder of blockchain attached storage and Borg Protocol, has now secured an additional $1.1 million in a seed funding round.

Functionland was founded by Keyvan Sadeghi. It is the builder of blockchain attached storage and Borg Protocol. The company already has a working relationship with  Protocol Labs that benefits its Borg Protocol, which uses Libp2p and IPFS technologies to facilitate P2P network transactions.

Executive Opinion

Keyvan Sadeghi (CEO, Functionland) said, "We're excited about the milestones this funding will help us accomplish. It is another step forward in Functionland's mission to put a piece of blockchain on everyone's desk. Our proof-of-concept photo storage app, Photos, is already recognized by developers as in the top three percent of open-source projects around the world. This funding will help us move successfully into the next phases of Borg Network development and our crowdfunding campaign for Box Hardware."

Brad Holden (investments lead, Protocol Labs) said, "Protocol Labs is committed to supporting projects with decentralization as a core principle of their vision. Functionland's development of blockchain-attached storage strives to decentralize cloud services and democratize the internet through the creation of a freer, more innovative Web3-based experience."

Functionland's Latest Funding

The round was backed by Outlier Ventures as well as Protocol Labs, Delta Blockchain Fund, Master Ventures, and some other key investors.

Some other investors include Tenzor Capital (Russia); Pinnacle Venture (India); Contango Digital Assets (Canada); Meta One Capital (Canada); Delta Blockchain Fund (USA); Master Ventures (Hong-Kong); DoraHacks (China); MaxStealth (Australia); MKD Capital; NxGen xyz; Oddgems.

The new funding will help the company to move into the next phases of Borg Network development and its crowdfunding campaign for Box Hardware, notes the announcement.
PC: Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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