Samsung Next, the venture capital arm of the South Korean tech giant, Samsung, has made a strategic investment in Startale Labs. This fast-growing Web3 company is recognized for its innovative work in decentralized technology.
Excited by this partnership, Samsung Next shared:
“Thrilled to support @StartaleHQ in their mission to build a decentralized future! Excited to see the impact they’ll have on the Web3 ecosystem🚀”
This investment brings Samsung Next closer to the development of Sony’s Layer-2 blockchain project, Soneium, through the Soneium Spark program. The collaboration between Samsung and Sony marks a significant step forward in advancing Web3 technology.
Startale Labs: Leading the Web3 Movement
Founded by Sota Watanabe in 2023, Startale Labs quickly became a key player in the Web3 space. Initially an independent company, Startale Labs soon formed a joint venture with Sony Network Communications. The company is also closely tied to Astar Network, helping to grow and expand within the decentralized world.
Startale Labs offers a range of services, including Astar Network, Soneium, and Startale Cloud Services. These tools make it easier to create and use decentralized apps (dApps) and smart contracts, solving problems like high entry costs, interoperability challenges, and technical difficulties that have slowed down the widespread use of Web3 technologies.
In early 2024, Startale Labs secured $3.5 million in funding from investors, led by Samsung Next and UOB Venture Management. This round added to a previous $3.5 million investment from Sony in September 2023, bringing the total investment to $7 million.
Samsung’s Vision for a Decentralized Future
In its official press release, Samsung Next emphasized the issues with traditional centralized systems, such as security risks and lack of transparency. The company believes that decentralized technology has the potential to create a more open, secure, and fair digital world.
However, Samsung acknowledged the challenges in making these technologies available for widespread use. Startale Labs plays a crucial role in addressing these challenges by providing the tools and infrastructure needed to support the growth of Web3.
The Importance of Soneium
A key part of Startale Labs’ partnership with Sony is developing Soneium, an Ethereum Layer-2 blockchain designed to make Web3 more accessible to users. Soneium uses optimistic rollups built on the Optimism OP stack, combined with Startale’s Astar zkEVM infrastructure. This powerful combination is expected to offer a range of valuable use cases for a decentralized future.
Source: https://coinmarketcap.com/community/articles/66d98cd27c36007a44695982/
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