Web3 startup Startale Labs secured $3.5 M Series A funding: Report
According to Alternatives.pe, Startale Labs, a Web3 startup based in Singapore, has raised US $3.5 million in a series A follow-up round.
Roughly US $63.5 million was raised in this round, with investors including Sony Network, Samsung Next Ventures, and UVM Signum Blockchain Fund.
Startale Labs is a January 2023-founded company that develops Web3 infrastructure. Under the direction of Sota Watanabe, the business develops Web3 applications and core infrastructure that are integrated into the blockchain of the Astar Network.
In addition, Watanabe founded the decentralized app hub Astar Foundation with an eye toward the Japanese market.
Additionally, Startale Labs has a Japanese subsidiary that focuses on providing research, development, and consulting services that are specifically catered to the Web3 companies in that nation.
Additionally, in June 2023, Startale Labs raised US $3.5 million in seed money from Sony Network Communications. The two businesses also announced at that time that they would be collaborating with Sony Network Communication to build the infrastructure required to enable the widespread adoption of Web 3.