EthStorage, the Ethereum second-layer network data storage solution project, recently completed a seed round of financing of US$7 million, with a valuation reaching US$100 million. This round of financing was led by Dao5, with participation from a number of well-known investment institutions and angel investors. Proceeds from the financing will be used to expand the team, support research, develop products, enhance the brand and attract more ecosystem partners to use EthStorage.

EthStorage is a second-layer solution based on Ethereum data-available technology, providing programmable dynamic data storage. The team has twice received funding from the Ethereum Foundation’s Ecosystem Support Program (ESP) for research on data availability sampling and proof of dynamic data storage in second-layer networks. In addition, EthStorage also won first place in the Super Demo event of the Community Ethereum Development Conference (EDCON) held in 2023.