Singapore-based Web3 startup has surpassed its Series A funding round with $3.5 million.
According to the recent release, Startale Labs, a Singapore-based web3 startup, has reportedly made its way in the recent funding round. The firm has raised a triumphant amount of $3.5 million in its Series A stage. The firm was financially backed by UVM Signum Blockchain Fund, Samsung Next Ventures and Song Network, which are some of the well-known investors who invested at the valuation of $63.5 million.
The latest fund was raised via a private placement of fresh shares, which will stand out as an emerging testament to focus on the brilliance and growth of the Web3 industry.
Statement from the Team
Jun Watanabe stated, “I am excited to strengthen further our collaboration with Startale Labs, a company with advanced Web3 technologies and expertise. We have already been cooperating with Startale Labs by jointly hosting incubation programs, aiming to promote the development of Web3. With this capital partnership, we are merging Startale Labs’ knowledge and technical capabilities in Web3 with the experience and business fields cultivated by Sony Network Communications to create the infrastructure necessary to facilitate global Web3 adoption. We believe this partnership will contribute to creating new killer Web3 use cases and deliver unprecedented levels of value.”
On a Collaborative Mode
The Web3 tech firm Startale Labs is merely known for its embracement of Web3 technology and enhancements of multi-chain applications with its infrastructure. Moreover, the firm is on its toes to collaborate with Sony Network Communications. This partnership is taking a firm stand on the equivalent vision of both parties. The vision is to establish an infrastructure globally which will, therefore facilitate mass advocacy of the Web3 technologies