Startale Labs Secures $3.5 Million in Extended Seed Funding from Samsung and UOB
Startale Labs, a Singapore-based Web3 firm, has secured an additional $3.5 million in funding from Samsung Next and United Overseas Bank (UOB) Venture Management.
According to a recent blog post by Startale, the newly acquired funds are set to fuel the expansion of the company’s web3 product lineup, including Japan’s largest web3 products, Astar Network and the Startale Web3 Cloud, and to enhance its efforts in attracting top industry talent.
This funding was part of an extended seed round, which, along with a previous $3.5 million investment from Sony Network Communications in September 2023, totaled Startale Labs’ seed financing to $7 million.
We are thrilled to announce that we have closed a $3.5m seed extension round and raised from UOB Venture Management and Samsung Next. Together with a $3.5m seed investment from Sony, we raised $7m at the seed round in total. Let’s go bold.https://t.co/u5zQfgRK2g pic.twitter.com/qrHl4adniL
— Startale Labs (@StartaleHQ) February 22, 2024
“Although Startale was established in January 2023, within a year, we have received support from leading Asian enterprises such as Sony, Samsung, and UOB Venture Management, significantly broadening our potential,” said Startale Labs CEO Sota Watanabe.
“With the funds raised, we aim to invest in product development and recruitment to create a truly representative Web3 company of Asia and beyond,” said Watanabe.
The firm has already launched the beta version of the Startale Web3 Cloud, a platform designed to simplify blockchain infrastructure deployment and management for developers.
“We believe that onboarding new users to web3 will be enabled by real-world use cases,” said UOB Venture Management Executive Director Paul Ng. “Startale Labs, with its
Read more on cryptonews.com
