Sumi Network
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Sumi Network is a San Francisco-based Web3 infrastructure provider building decentralized communication and storage. It started as a Polkadot blockchain project enabling decentralized wallet-to-wallet communication - with spam filtering via NFT/token-gated message access, supporting Ethereum, Bitcoin, and Substrate wallet addresses - and developed a proprietary storage layer with peer-to-peer technology compatible with Amazon S3, after finding existing decentralized storage (IPFS, Filecoin, Crust) couldn't truly replace email-like services. On February 2, 2023 it raised a $3 million seed round led by Scytale Digital at a $30 million valuation, with Fuse, D1 Ventures, DFG, and TRGC participating. No failure event for the company was found.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- $3M seed round
On February 2, 2023 Sumi Network raised a $3 million seed round led by Scytale Digital at a $30 million valuation (investors: Fuse, D1 Ventures, DFG, TRGC) to build out its decentralized communication and storage solutions.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.