Functionland inc., builders of blockchain-attached storage and the Borg Protocol, announced an additional USD 1.1 Million in seed funding. The round was oversubscribed by 40%, reflecting the significant and growing interest in the company’s vision.
In addition to current investor Outlier Ventures, this round added Protocol Labs, Master Ventures, Delta Blockchain Fund and other key investors to the list of those who believe in what Functionland is trying to achieve.
“We’re excited about the milestones this funding will help us accomplish,” said Keyvan Sadeghi, (CEO, Functionland). “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.”
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For Functionland, this early development stage is characterized by mutually beneficial business relationships. The company already enjoys a working relationship with Protocol Labs that benefits its Borg Protocol, which uses IPFS and Libp2p technologies to facilitate p2p network transactions.
“Protocol Labs is committed to supporting projects with decentralization as a core principle of their vision,” said Brad Holden (investments lead, Protocol Labs), “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.”
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