Sending Labs raises $12.5M to bring Web3 into online communication
Sending Labs, a new startup focused on the creation of decentralized applications (dapps) built around communication has raised $12.5 million in a seed funding round to launch the Web3 communications stack.
The round was co-led by Insignia Venture Partners, MindWorks Capital, and Signum Capital and saw participation from K3 Ventures, Lingfeng Innovation Fund, UpHonest Capital and Aipollo Investment.
Announcing the seed raise on Feb. 16, Sending Labs also launched its first two messaging products, including SendingNetwork and SendingMe.
Now launched in beta, the products are intended to help developers create decentralized social applications and provide the community with access to an encrypted decentralized group chat network.
The tools enable users to commercialize their projects through a range of methods like peer-to-peer swaps, community marketplaces, crowdfunding, airdrops, gifting, auctioning, and others by utilizing smart contract payments and trading protocols.
The startup was co-founded by Yu and Mason Yang, who also co-founded MoboTap, the company behind the early Android-based mobile app Dolphin.
With the new capital, Sending Labs’ latest solution promises to allow private communications, and decentralized group messaging while also ensuring digital asset ownership and transfer within communal discussions.
