Lens Protocol-Based Orb Raises $2.3 mn
A pre-seed investment round of $2.3 million was completed by Orb Technology, the company behind the Lens Protocol-based web3 social programme Orb.
According to Orb, Superscrypt, Founders, Inc., Foresight Ventures, Aave Companies, Stani Kulechov, the creator of Aave Companies and Lens Protocol, and Sandeep Nailwal, the co-founder of Polygon, were among the investors in the round. According to Kimmo Siren, co-founder of Orb, there was no lead investor in the round, which started in March and ended in May. Regarding valuation, he opted not to comment.
Orb is a web3 social app with chat and communities features, allowing users to connect with friends and join groups. With over 5,000 users and 400 requests for new communities, Orb has generated 15,000 publications and 150,000 reactions. The company plans to use the Lens Protocol to build ownership-based communities and improve mobility and privacy through token-bound accounts. With fresh capital, Orb plans to develop new social experiences on-chain, combining commerce, content, and communication. The company plans to expand its team by hiring mostly mobile developers and designers.
(With inputs from Shikha Singh)
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