# Permanent Data Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/permanent-data-solutions

- Industry: Software
- Headquarters: Clifton, US
- Website: www.ardrive.io
- Total disclosed funding: $17M
- Latest round: Seed (Feb 26, 2022)
- Investors on record: 13

## About

Based in New Jersey, US, and founded in 2020 by its CEO Phil Mataras and CTO Ariel Melendez, Permanent Data Solutions, Inc., trading as ArDrive, is a blockchain-based application for permanent storage of documents, photos, and videos. In February 2022, Permanent Data Solutions, Inc. raised USD 17.2 million in seed funding co-led by new investors Blockchain Capital and Sino Global Capital and returning investor Minimum Spanning Technologies Limited, with participation from other new investors ArkStream Capital, Cipholio Ventures, Compute Ventures, Dorm Room Fund, Foresight Ventures, and OFR Fund. 

Permanent Data Solutions, Inc. offers permanent data storage in ArDrive, which is built on the Arweave network that ensures file data is seeded to the underlying mining nodes of the network, caches and serves data from the moment transactions reach the network, and provides a searchable index for the transaction tag data that powers some of the Permaweb’s dApps. ArDrive uses the digital currency AR and offers various features such as multi-file upload, secure sharing of files, public sharing of files, and storing all types of data, including documents, images, and video files.

Permanent Data Solutions, Inc. plans to use the seed funding to build a decentralized alternative to its current gateway model.

## Funding rounds

- Seed, Feb 26, 2022, $17M — Foresight Ventures, Dorm Room Fund, Blockchain Capital, Minimum Spanning Technologies Limited, Hypersphere Ventures, LongHash Ventures, SevenX Ventures, Ryze Labs, Momentum 6, ArkStream Capital, Cipholio Ventures, OFR Fund, Compute Ventures

## Investors

- Foresight Ventures (https://capitalatlas.ai/funds/foresight-ventures) — Seed
- Dorm Room Fund (https://capitalatlas.ai/funds/dorm-room-fund) — Seed
- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Seed
- Minimum Spanning Technologies Limited — Seed
- Hypersphere Ventures (https://capitalatlas.ai/funds/hypersphere-ventures) — Seed
- LongHash Ventures (https://capitalatlas.ai/funds/longhash-ventures) — Seed
- SevenX Ventures (https://capitalatlas.ai/funds/sevenx-ventures) — Seed
- Ryze Labs (https://capitalatlas.ai/funds/ryze-labs) — Seed
- Momentum 6 (https://capitalatlas.ai/funds/momentum-6) — Seed
- ArkStream Capital (https://capitalatlas.ai/funds/arkstream-capital) — Seed
- Cipholio Ventures (https://capitalatlas.ai/funds/cipholio-ventures) — Seed
- OFR Fund — Seed
- Compute Ventures (https://capitalatlas.ai/funds/compute-ventures) — Seed