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Startale Labs, a startup rooted in Singapore and focused on Web3 technology, secures $3.5 million in a subsequent Series A funding round.

Updated: Feb 14




Singaporean Web3 startup Startale Labs has secured $3.5 million in a series A follow-up round, according to a report from Alternatives.pe. Investors such as UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures participated in the round, valuing the company at $63.5 million post-money.

Established in January 2023, Startale Labs, helmed by founder Sota Watanabe, specializes in developing Web3 infrastructure. The company focuses on building core infrastructure and applications for Web3, integrated with the Astar Network blockchain. Watanabe, who also founded Astar Foundation, which serves as a hub for decentralized apps in the Japanese market.

Startale Labs operates a subsidiary in Japan, which concentrates on research, development, and consultancy tailored to the country's Web3 sector. The company's endeavors have garnered attention and led to partnerships with major industry players. In June 2023, Startale Labs secured $3.5 million in seed funding from Sony Network Communications to collaborate on developing infrastructure for global Web3 adoption.

Tech in Asia has reached out to Startale Labs for official comment on the recent funding round. The company's success underscores the growing interest and investment in Web3 infrastructure development, particularly in the Asia-Pacific region.


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