<p><span style="font-weight: 400;">Arweave, a blockchain startup focused on the permanent storage of Internet content, has raised $8.3 million in new funding from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures. </span></p> <p><span style="font-weight: 400;">Both Andreessen Horowitz and Union Square Ventures have already invested in Arweave. The investment firms were named as round participants in Nov. 2019, when the startup <a href="https://www.theblockcrypto.com/linked/45935/andreessen-horowitz-leads-5m-round-in-blockchain-based-internet-archive">raised</a> $5 million.</span></p> <p>Founded in 2017, Arweave went through Techstars Berlin's mentorship program in 2018 and went live in June that year. According to a <a href="https://medium.com/@arweave/arweave-announces-new-funding-from-andreessen-horowitz-usv-and-coinbase-ventures-30a1fde3d8c5">press statement</a>, the protocol now has more than one million pieces of data stored on its permaweb and nearly 200 apps built upon it. </p> <p><span style="font-weight: 400;">The fresh inflow of capital will help the firm build out a series of new initiatives, including a bid to re-invest the funds back into the Arweave community, the startup said. </span></p> <p><span style="font-weight: 400;">One of the projects is a grant program that offers financial assistance to community projects, startups, and DAOs. Another initiative, called Arweave Boost, aims to help projects boost their growth by offering them up to $50,000 worth of storage as well as mentorship resources.</span></p>