Sending Labs Secures $12.5 mn
Sending Labs, a Web3 communications startup, has raised a $12.5 million seed round led by Insignia Venture Partners, MindWorks Capital, and Signum Capital.
K3 Ventures, LingFeng Innovation Fund, UpHonest Capital, and Apollo Investment participated in the deal, which closed last month after founders Mason Yang and Joe Yu began fundraising in August. The valuation was not revealed.
Yang and Yu founded MoboTap, the company behind Dolphin, one of the first Android browsers, which has over 200 million users in 130 countries. According to the founders, when Google was preparing to launch its own browser, it removed Dolphin from the app store due to claims that it violated API access.
The funds will be used to speed up its integration with other Layer 1 and Layer 2 networks, including Avalanche and Arbitrum, as well as non-EVM chains such as Solana and Sui. The extra cash will also be funnelled towards the development of sector-specific SDKs and the launch of a community ambassador programme.
(With inputs from Shikha Singh)
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