Singapore-based Web3 Startup Startale Labs Raises US$3.5 Million in Series A Follow-Up Round
- ByStartupStory | February 13, 2024
Startale Labs, a Singapore-based Web3 startup, has raised US$3.5 million in a series A follow-up round, as reported by Alternatives.pe. The round saw participation from notable investors including UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures. The funding round was raised at a post-money valuation of US$63.5 million.
Founded in January 2023, Startale Labs specializes in Web3 infrastructure development. The company, led by founder Sota Watanabe, focuses on creating core infrastructure and applications for Web3, integrated onto the Astar Network blockchain. Watanabe is also the founder of Astar Foundation, a decentralized app hub focused on the Japanese market.
Startale Labs has a subsidiary in Japan that focuses on research, development, and consultancy services tailored specifically for the country’s Web3 companies. The company’s efforts have attracted significant attention, leading to partnerships with major players in the industry. In June 2023, Startale Labs secured US$3.5 million in seed funding from Sony Network Communications. This partnership aims to jointly develop infrastructure to support the global adoption of Web3.
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