Following a seed investment round, blockchain-based permanent storage application ArDrive, raised a neat $17.2 million from 13 investors. The round was led by Arweave Team, Blockchain Capital, and Sino Global Capital.
ArDrive currently hosts over 6 million files from across the globe, including text, articles, photos and videos on its Arweave blockchain. While Dropbox or Google Drive are most often selected by users to save their data, the services are susceptible to data leaks. Arweave aims to mitigate the risks and allows users to maintain ownership and control of their data.
ArDrive received mainstream attention when last summer Hong Kong activists used the service to store content that was being suppressed by the Chinese government.
The storage application is also currently involved in the archiving of files related to Russia’s expedition in Ukraine.