Walrus Raises $140M to Launch Sui-Based Decentralized Data Storage

Walrus Protocol, a blockchain-powered data storage platform, secured $140 million in a private sale of its native token, WAL, led by Standard Crypto. The funding round also saw participation from a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and RW3 Ventures.

Built on the Sui blockchain, Walrus was originally developed by Mysten Labs and is set to launch its mainnet on March 27, the Walrus Foundation announced Thursday.

With the rising demand for large-scale data storage, particularly from AI-driven applications, Walrus aims to provide programmable, interactive, and secure decentralized storage. "By leveraging Sui’s unique architecture, we’re making data storage more efficient and secure," said Rebecca Simmonds, managing executive at the Walrus Foundation.

The fresh capital will support the expansion of Walrus' decentralized storage protocol and the development of new applications on its network. As AI adoption accelerates, blockchain-powered solutions like Walrus are positioning themselves to meet the increasing data storage needs.