Funding alerts
- byStartup Story | February 13, 2024
Singapore-based Web3 startup Startale Labs has raised US$3.5 million in a Series A follow-up round, Alternatives.pe reports. The round included participation from notable investors including UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures. This funding round raised US$63.5 million at a post-money valuation.
Founded in January 2023, Startale Labs specializes in Web3 infrastructure development. Led by founder Sota Watanabe, the company is focused on creating the core infrastructure and applications for his Web3 integrated into 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 and focuses on customized research, development and consulting services specifically for Japanese Web3 companies. The company’s efforts attracted significant attention and led to partnerships with major companies in the industry. In June 2023, Startale Labs secured US$3.5 million in seed funding from his Sony Network Communications. This partnership aims to jointly develop the infrastructure that will support the global adoption of Web3.
Tech in Asia has reached out to Startale Labs for official comment on the recent funding round. The company’s success highlights his growing interest in and investment in Web3 infrastructure development, particularly in the Asia-Pacific region.