Startale Labs, headed by CEO Sota Watanabe and renowned for its Astar Network and Startale Web3 Cloud, has successfully raised $3.5 million in funding. The funds raised in this round will be used for the development of Web3 products and the recruitment of top talent worldwide.
This funding was provided by UOB Venture Management, a subsidiary of Singapore’s top three banks, UOB, and Samsung Next, the venture capital arm of Samsung. The funding adds to its existing seed round, bringing the total to $7 million when combined with a previous $3.5 million investment from Sony Network Communications in September 2023.
Startale also entered into a joint venture with Sony Network Communications recently to collaboratively build a blockchain, achieving significant milestones.
The beta version of Startale Web3 Cloud, a platform facilitating the effortless deployment and management of blockchain infrastructure for developers, has been successfully launched. Leveraging the additional funding, the company is poised to accelerate its development endeavors.
Sota Wantabe, the CEO of Startale Labs, stated, “With the funds raised, we aim to invest in product development and recruitment to create a truly representative Web3 company of Asia and beyond.”
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