PANews reported on March 4 that Akave, a decentralized cloud storage service provider, announced the completion of a $6.65 million funding round, with participation from Protocol Labs, No Limit Holdings, Blockchange, Lightshift, Blockchain Builders Fund, Big Brain Holdings, Avalanche Foundation, and Filecoin Foundation.

Akave Cloud is an S3-compatible decentralized storage platform built on a dedicated Avalanche Layer 1 blockchain. It is designed to provide enterprises with an alternative to traditional cloud storage, enabling AI applications to run without being locked into specific cloud service providers.