Walrus Foundation Raises $140 Million From Investors To Develop Decentralized Storage Network

Walrus Foundation, led by cofounder and CEO Evan Cheng, raised $140 million from Standard Crypto, a16z, Electric Capital, Protagonist, and Franklin Templeton Digital Assets, and others to develop a high-speed decentralized storage network called Walrus. Built by Mysten Labs, known for creating the Sui blockchain, Walrus aims to outperform existing decentralized storage protocols like Filecoin and Arweave by offering faster, cheaper, and more programmable solutions. The funding came through a sale of the blockchain’s cryptocurrency, $WAL, valuing the protocol’s total supply at $2 billion. The project is currently in beta, with a web-hosting service already built on top and a planned launch on March 27. INVESTORS: Standard Crypto, Andreessen Horowitz (@a16zcrypto), Electric Capital (@ElectricCapital), Franklin Templeton Digital Assets (@FTDA_US), Luna Capital (@LvnaCapital), Protagonist (@ProtagonistXYZ), Karatage (@Karatage_), RW3 Ventures (@RW3Ventures), Comma3 Venture (@Comma3vc) & Raptor Group (@RaptorGroup) AMOUNT: $140,000,000 HQ: #SanFrancisco #California #VentureCapital #WalrusFoundation #EvanCheng #StandardCrypto #a16zcrypto #ElectricCapital #FTDAUS #LunaCapital #ProtagonistXYZ #Karatage #RW3Ventures #Comma3vc #RaptorGroup #TradedVC