<p><span data-contrast="auto">Web3 developer platform Fleek closed a $25 million Series A raise led by Polychain Capital.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">Digital Currency Group, North Island Ventures and Coinbase Ventures are also among the investors who participated in the round, according to a company release.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <h2>What is Fleek?</h2> <p><span data-contrast="auto">Founded in 2018, Fleek’s business model has gone through several iterations. In 2020, it <a href="https://blog.fleek.co/posts/Fleek-Rebrand">rebranded</a> from Terminal to Fleek — offering users an easy way to build, deploy and host websites and apps on the filesharing protocol InterPlanetary File System (IPFS).</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">The startup previously raised $5 million in seed funding.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto"><a href="https://fleek.co/">Fleek</a> now offers hosting and storage services on several web3 protocols. The platform currently leverages web2 providers, such as AWS and Cloudflare, to provide these services.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <h2>Launching the Fleek network</h2> <p><span data-contrast="auto">The startup plans to roll out the Fleek Network, a decentralized content and application delivery platform for web3 that addresses the reliance on centralized web2 storage and hosting providers, next year.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">“Fleek is providing a critical missing piece to achieving a legitimate decentralized Web3 experience,” said Harrison Hines, co-founder and CEO of Fleek. “With Fleek Network, we will be empowering developers and organizations with an easy and seamless mechanism for Web3 hosting and content delivery that will help deliver on the promise of creating a truly decentralized internet.”</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">The Fleek network is expected to launch on mainnet in the spring of 2023, said Hines in a statement to The Block. Its governance layer will be built on an Ethereum Layer 2, and a decision on what network will be used will be made in early 2023, he added.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">The equity round closed in October, Hines said. The funds will be put toward developing the Fleek Network and the new Fleek platform. Some of the funds will also be used for expanding the team and growing the community, he added.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p>The <a href="https://www.theblockresearch.com/q322-blockchain-venture-funding-and-ma-recap-176212">average</a> Series A check size in the third quarter was $22.5 million, according to data from The Block Research.</p> <div id="attachment_177235"class="wp-caption aligncenter" style="max-width: 454px;"><img class="has-caption wp-image-177235" src="https://www.tbstat.com/wp/uploads/2022/10/Screenshot-2022-10-14-at-13.58.56.png" alt="Third quarter blockchain venture deals size" width="444" height="312" /><p class="wp-caption-text"><span style="font-size: 8pt;">Third-quarter blockchain venture deal size. Source: The Block Research</span></p></div><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>