"Decentralized storage is a critical piece of the Web3 infrastructure stack and Arweave is well positioned to serve as the de facto solution. Arweave’s novel architecture guarantees data availability and data persistence, in addition to providing a new design space for application development. We are excited to partner with Tate and the entire Community Labs team in building foundational infrastructure for the Arweave ecosystem," said Will Leas, Partner at Lightspeed Faction and Advisor at Lightspeed Venture Partners.

https://www.businesswire.com/news/home/20220908005209/en/Community-Labs-raises-30-million-to-power-software-development-and-venture-studio-for-Arweave%E2%80%99s-permanent-storage-blockchain-ecosystem