# Minimum Spanning Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/minimum-spanning-technologies

- Industry: Software
- Headquarters: London, UK
- Website: www.arweave.org
- Total disclosed funding: $13M
- Latest round: Seed (Mar 5, 2020)
- Investors on record: 4

## About

Minimum Spanning Technologies Limited operates the Arweave network, which offers permanent decentralized data storage solutions, utilizing a blockchain-like technology to ensure long-term accessibility and integrity of information.Minimum Spanning Technologies Limited specializes in decentralized data storage. The company is headquartered in London, UK. It was co-founded by Luke Bateman and Sam Williams, who has prior experience in founding other ventures. On March 5, 2020, the company raised USD 8.3 mn in Seed funding, led by Andreessen Horowitz and supported by Coinbase Ventures and Union Square Ventures. This funding round represents the total amount raised by the company to date, encompassing two deals.Arweave's key offering is the Arweave network, which provides a permanent, decentralized storage solution for data. This innovative platform utilizes a blockchain-like ledger to ensure that information remains accessible indefinitely. It caters to a wide variety of applications, including the preservation of historical data and hosting decentralized web applications. The network is utilized globally, with notable demand in North America, Europe, and parts of Asia.In 2022, Minimum Spanning Technologies Limited reported a revenue of USD 47.39 mn and an EBITDA of USD 24.44 mn. The revenue structure is primarily based on transaction fees from permanent data storage, employing a direct-to-consumer model that allows users to purchase storage capacity directly.The recent Seed funding of USD 8.3 mn will be directed towards enhancing Arweave's infrastructure and expanding its market presence. There are plans to develop new products aimed at improving user engagement and accessibility, although specific product release dates have yet to be disclosed. Additionally, the company intends to focus on expanding into new markets, particularly in Asia and Europe, to increase its global footprint. The funding will support these initiatives and the strategic growth of their decentralized storage solutions.

## Funding rounds

- Seed, Mar 5, 2020, $8.3M — Union Square Ventures, Andreessen Horowitz, Coinbase Ventures
- Seed, Nov 5, 2019, $5M — Union Square Ventures, Andreessen Horowitz, Multicoin Capital

## Investors

- Union Square Ventures (https://capitalatlas.ai/funds/union-square-ventures) — Seed
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed
- Multicoin Capital (https://capitalatlas.ai/funds/multicoin-capital) — Seed
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Seed