Startale Labs CEO Sota Watanabe / Photo credit: Watanabe’s LinkedIn page
Startale Labs, a Singapore-based Web3 startup, has raised US$3.5 million in a series A follow-up round, according to Alternatives.pe.
UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures were some of the investors in the round, which was raised at a post-money valuation of US$63.5 million.
Tech in Asia has reached out to Startale Labs for official comment.
Founded in January 2023, Startale Labs specializes in Web3 infrastructure development. Helmed by Sota Watanabe, the company creates core infrastructure and applications for Web3 that is integrated onto the Astar Network blockchain.
Watanabe is also the founder Astar Foundation, a decentralized app hub focused on the Japanese market.
Meanwhile, Startale Labs also has a Japanese subsidiary that zooms in on research, development, and consultancy services tailored specifically for the country’s Web3 companies.
In June 2023, Startale Labs also secured funding, raising US$3.5 million in seed money from Sony Network Communications. Around that time, the two companies also announced a partnership to jointly work on the infrastructure necessary to support the global adoption of Web3, with Sony Network Communication.
See also: Line- and Kakao-backed Web3 gaming firm makes $8m while staying profitable
Editing by Miguel Cordon and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
