The MaidSafe developer team completed its equity fund-raising round today on BnkToTheFuture.com, raising an impressive $1,581,191 from 240 backers & qualifying investors. The 30-day funding round began on the 12th of September and gave investors the chance to snap up 6.25% of equity in the ambitious startup.
Scotland-based MaidSafe was looking to raise between £1.75-£2 million to finish development of its decentralized file storage network, which rewards cloud storage providers on the SAFE network with Safecoins - digital tokens used by uploaders to pay for storage space.
“With this investment round we are seeking to accelerate progress further by adding functionality and working towards the beta version and beyond.”
The MaidSafe team selected the BnkToTheFuture platform due to its popularity with blockchain, fintech & digital currency enthusiasts.
Our investment round is complete. Many thanks to the 240 @BankToTheFuture investors who contributed £1.3m to help us decentralise the web.— MaidSafe (@maidsafe) October 12, 2016
At press time, the SAFE Network is in alpha stage. Users are able to launch their own webpages and host existing sites on storage infrastructure provided by MaidSafe. File uploads are currently limited to 25 MB per file on the alpha network.
With the successful completion of this funding round, MaidSafe will move towards releasing the beta version - called TEST 8 - where users will start providing storage space to the network with their own hardware.
MaidSafe sweetened the deal for participating investors by offering a fixed amount Safecoins for every pound invested, which will be delivered to investors both digitally and on special memory sticks:
“The Safecoins that we will be offering to early investors will be amongst the first to be farmed on the network by MaidSafe.”