Startale Labs has raised $3.5 million from UOB and Samsung in an expanded seed round.

Singapore-based Web3 company Startale Labs has secured an additional $3.5 million in an extended seed round from UOB Venture Management, a subsidiary of Singapore bank UOB, and Samsung Next, the CVC arm of Samsung.

The newly raised capital brings total seed round funding to $7 million, Startale said in a statement shared with The Block today. Previous $3.5 million investment From Sony Network Communications in June last year.

The company said it plans to use the new funds to hire top talent and develop its web3 product.

Sota Watanabe, CEO of Startale Labs, said, “Even though Startale was founded in January 2023, it has greatly expanded its potential with the support of leading Asian companies such as Sony, Samsung, and UOB Venture Management in just one year.” said. name.

Startail Labs announced that its goal is to develop Asta Network, a public blockchain widely used in Japan, and provide Web3 infrastructure through Startale Web3 Cloud. through joint venture The company, along with Sony Network Communications, said it has deployed a beta version of Startale Web3 Cloud.

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