Akave, a decentralized storage provider, stated it has secured $6.65 million in funding to date for its Akave Cloud platform. The company made the disclosure on March 2, 2026, via its website and X account, listing backers that include Protocol Labs, No Limit Holdings, Blockchange, Lightshift, Blockchain Builders Fund, Big Brain Holdings, Avalanche Foundation, and Filecoin Foundation.
Company Overview
Akave develops S3-compatible object storage aimed at AI and analytics applications. The platform operates on a dedicated Avalanche Layer 1 blockchain and emphasizes features such as flat-rate pricing at $14.99 per terabyte per month and no egress fees.
It positions itself within the decentralized physical infrastructure networks (DePIN) and AI infrastructure sectors, where storage solutions seek to address data portability across cloud environments. Early users include Intuizi for consumer data processing, LaserSETI for astronomical observations, 375ai for AI training datasets, and Skymapper for telescope data.
Investor Details
The funding involves multiple venture firms focused on blockchain infrastructure. Protocol Labs, known for IPFS and Filecoin, participated alongside Avalanche Foundation, which supports projects on its network, and Filecoin Foundation.
Stated Use of Funds
Akave indicated the capital will advance enterprise-grade performance for AI workloads, governance features for compliance, and storage portability independent of compute providers.
The company launched Akave Cloud in production, integrating with tools like Snowflake and Apache Iceberg for analytics workflows.
Funding History
Akave, founded in 2024, previously raised $3.45 million in a pre-seed round in November 2024. That investment came from Protocol Labs, Blockchange Ventures, Lightshift, and Blockchain Builders Fund, supporting early development of on-chain data management as a Filecoin L2 solution. The recent update brings verifiable total funding to $6.65 million across these efforts.
Market Context
Decentralized storage projects have drawn investment amid rising AI data needs and multi-cloud strategies. Comparable raises include efforts by other Filecoin ecosystem participants targeting hot storage for AI.
Funding in web3 infrastructure persists into 2026, though volumes trail 2021 peaks, with focus shifting to practical applications like verifiable data layers. Akave Cloud is open for enterprise and developer use.
Recent funding rounds in decentralized storage remain modest compared to compute-focused AI crypto projects. However, within broader web3 Fundraising updates, infrastructure-focused projects like Akave continue to attract strategic capital as investors prioritize verifiable control and cost efficiency over speculative growth.
