Web3 workspace and file management application Fileverse raised $1.5 million in a pre-seed round.
The round, led by privacy-focused Gnosis Chain and venture capital firm Factor, included crypto wallet provider Safe, social media privacy solution Mask Network, decentralized file storage service Arweave Ecosystem, ecosystem incubator Forward Research, Web3 credential network Galxe, former Coinbase Balaji Srinivasan and Other angel investors also participated.
According to the company's statement, Fileverse aims to offer users an alternative to centralized providers such as Google or Notion by giving them better ownership over their personal data. Leveraging smart contracts, the platform stores encrypted data on the InterPlanetary File System (IPFS) owned by Filecoin (FIL) developer Protocol Labs, rather than on a single server provider. Additionally, Fileverse is designing a tool that is compliant with the European data privacy regulation GDPR through cryptographic encryption.
