On Wednesday, June 28, 2023, Singapore-based Startale Labs Pte Ltd announced a $3.5 million USD investment from Sony Network Communications Inc. This strategic funding, acquired via a private placement of new shares, bolsters Startale Labs’ mission of driving global adoption of web3 technologies. Alongside financial investment, both parties plan to embark on extensive business collaboration initiatives.
Startale Labs, renowned for its work in multichain application and infrastructure development, has a rich history of collaboration with Sony Network Communications. Earlier in 2023, both firms partnered with Astar Network to conduct the successful Web3 Incubation Program. This joint effort sought to foster web3 projects centered on practical utility within NFTs, DAOs, and DeFi sectors, culminating in a Web3 Demo Day during Japan Blockchain Week on June 18th.
With fresh funding, Startale Labs is poised to augment its workforce and propel its web3 product and service development forward. As the principal developers behind Astar Network, the leading public blockchain in Japan, the team at Startale Labs possesses significant blockchain expertise and an ingrained presence in the Japanese web3 industry.
The current web3 ecosystem, while advancing, still lacks certain tools and infrastructure that allow enterprises to integrate with existing tech stacks seamlessly. Startale Labs and Sony Network Communications aim to address this challenge, collaborating to fill the gap with all-in-one solutions and bridging the divide between real-world assets and the web3 ecosystem.
“I am excited to further strengthen our collaboration with Startale Labs, a company with advanced web3 technologies and expertise. We have already been cooperating with Startale Labs by jointly hosting incubation programs, aiming to promote the development of web3. With this capital partnership, we are merging Startale Labs’ knowledge and technical capabilities in web3 with the experience and business fields cultivated by Sony Network Communications to create the infrastructure necessary to facilitate global Web3 adoption. We believe this partnership will contribute to the creation of new killer web3 use cases and deliver unprecedented levels of value.” Jun Watanabe, President and Executive Officer of Sony Network Communications Inc.
As part of the new agreement, Jun Watanabe, President, CEO, and Representative Director of Sony Network Communications, has accepted a directorship role at Startale Labs. Jun expressed his excitement over the strengthened collaboration and the merging of Startale Labs’ advanced web3 technologies with Sony Network Communications’ experience and business expertise. The mutual goal is to create an infrastructure that facilitates global web3 adoption, fostering the development of new and innovative web3 use cases.
Sota Watanabe, CEO of Startale Labs, also shared his enthusiasm for the new partnership with Sony Network Communications, a company known for its achievements in various industries. The CEO highlighted Sony Group’s tremendous potential in the web3 space, due to its vast IP and sector expertise, particularly in relation to the creator economy.
“We are honored to enter into this partnership with Sony Network Communications, a company of the Sony Group that is renowned for its achievements across industries including gaming & networking services, music, film, entertainment technologies & service, imaging & sensing solutions and finance. With its wealth of IP and expertise in sectors adjacent to the creator economy, Sony Group has tremendous potential in the web3 space, and we can’t wait to collaborate on tapping into that. We look forward to collaborating with Sony Network Communications to develop global web3 infrastructure and creating groundbreaking Web3 use cases.” Sota Watanabe, CEO, Startale Labs
Sony Network Communications has gained renown for providing advanced infrastructure, such as the fiber-optic internet service NURO Hikari, and for its dedication to human change and infrastructure within the Internet telecommunications business.
Source: Startale Labs, Sony Network Communications.
About Startale Labs
Startale Labs is a web3 tech company that develops multichain applications and infrastructure, and provides business consulting services based on its expertise in multi-chain protocol development. It also acts as the gateway for large enterprises to integrate with Astar Network. Startale provides business strategy and tech support to participating projects by leveraging Astar’s development, past consulting and R&D business expertise. With a focus on web3 infrastructure, the company aims to build innovative products to enable the widespread adoption of Web3 technologies.
Email: Sota Watanabe, info@startale.org
Website: https://startale.org/
About Sony Network Communications
The Sony Group operates a variety of businesses such as Game & Network Services, Music, Pictures, Entertainment Technology & Services, Imaging & Sensing Solutions, and Financial Services. As a business company of the Sony Group, Sony Network Communications is involved in the communication business, IoT business, AI business, and solution service business, and promotes new businesses by utilizing assets within the Sony Group.
Email: press@sonynetworkcommunications.com
Website: www.sonynetworkcommunications.com
