SAN FRANCISCO, July 11, 2019 /PRNewswire/ -- Textile, an app
development platform on IPFS, announced today $1.5 million Series Seed funding led by BlueYard
and including Collaborative Fund, Multicoin, SystemOne, Coinbase
Ventures, Starchain Capital, Jesse
Clayburgh, Henri Stern, and
others.
Textile, known for creating an early IPFS-based photo-sharing
application, Textile Photos is now releasing a suite of freely
available tools to develop any application. Those tools, including
the decentralized database technology called Threads, are already
being leveraged by companies to build iOS, Android, and
browser-based applications.
The investment accelerates Textile's business in three key
areas:
- Launch Textile's interoperable data connectors that will allow
multiple, user-controlled applications to build and augment shared
datasets for the user.
- Accelerate the development of Textile's core services for user
data storage, user identity, authentication, and real-time data
synchronization.
- Directly support the integration of Textile into 3rd party
applications through both grants and engineering support.
"There is an opportunity to rewire the internet to use personal
data the right way," said Andrew
Hill, CEO of Textile. "Through IPFS, encryption, and data
interoperability, we can put control of data back into the hands of
individuals."
Textile got its start building Textile Photos, an application
that allows users to create, encrypt, and store their private
photos on IPFS and share photos with other users or across multiple
devices. The company built the photos app to test their technology
and to on-board new users to the network.
With Textile's development platform, any app can now store and
retrieve data for users over IPFS, helping apps leverage
peer-to-peer communication—sometimes improving speed and bandwidth
performance—and using end-to-end encryption. Datasets are stored
using cryptographic keys known only by the authorized user(s) and
app(s) and stored in a user's private data wallet. Through its
remote IPFS hosting, SDKs for mobile and desktop, and identity
tools, Textile powers everything from photos to collaborative
writing tools, to healthcare apps.
About Textile
Textile is a platform to help app developers leverage
decentralized systems. Textile provides a decentralized database,
real-time synchronization, communications, remote backup and
recovery, identity tools, and key management via our APIs and SDKs.
Hundreds of developers take part in our developer forum. Textile is
a small, fully remote team aligned in their vision to change the
relationship between technology and personal data. Learn more at
docs.textile.io and follow them on Twitter.
CONTACT: contact@textile.io
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SOURCE Textile