Textile Announces $1.5 Million Series Seed and Launches App Developer Tools on IPFS

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:

1. Launch Textile's interoperable data connectors that will allow multiple, user-controlled applications to build and augment shared datasets for the user.
2. Accelerate the development of Textile's core services for user data storage, user identity, authentication, and real-time data synchronization.
3. 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: [email protected]

SOURCE Textile

Related Links

https://docs.textile.io/