Haja Networks, an Oulu, Finland-based decentralised database startup, has raised fresh funding.
The undisclosed funding came from Creathor Ventures, with Berlin-based BigchainDB. Outlier Ventures and Polychain Capital also participating.
Haja Networks develops foundational distributed and decentralised technologies for the future Internet. The company is currently building OrbitDB, a scalable peer-to-peer database, and database protocols for a global data layer to re-decentralise the web.
Samuli Pöyhtäri, founder and CEO of Haja Networks, said: “There are great projects seeking to make decentralised data storage and data exchange possible, but there’s a significant gap for decentralised databases, which are able to update and structure data in a scalable way.
“We believe that those who are building the decentralised web today, won’t be able to do it with the existing applications. But with the knowledge, network and depth of team of our investors we are confident that we can deliver our vision to become a foundational part of the new decentralised web.”
Its Decentralized Database Protocol is an open protocol to build decentralized databases that enables users to own and control their data. The protocol integrates with existing databases and enables interoperability between structured data sources.
Haja also provides a Decentralized Database Network, a marketplace for decentralized database services allowing providers to monetise their software whilst businesses in need of data have access to a wide range of services.
Jamie Burke, CEO, Outlier Ventures added: “Blockchains today generally can’t handle most database sizes and throughput volumes and that will likely still be the case even when proposed scalability solutions come online. Therefore, what’s often really needed is interoperability between decentralised networks. It’s this that holds the most promise to a world full of decentralised applications that have high performance and a great user experience to rival and ultimately replace today’s centralised web.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
