Decentralized Cloud Infrastructure Akash Completes $6.65 Million Financing Round with Avalanche Foundation Among Investors

BlockBeats News, March 2nd, Decentralized enterprise cloud infrastructure company Akave has completed a $6.65 million financing round, led by Protocol Labs, No Limit Holdings, Blockchange, Lightshift, Blockchain Builders Fund, Big Brain Holdings, Avalanche Foundation, and Filecoin Foundation.

Akave's decentralized cloud storage platform, Akave Cloud, is built on the Avalanche L1 blockchain and aims to provide an S3-compatible decentralized storage solution for AI applications. The platform supports on-chain verifiability and programmable access controls, and does not charge data egress fees. Akave Cloud can integrate with platforms like Snowflake, Apache Iceberg, and offers an option to long-term archive to the Filecoin network.