Startale Labs Pte. Ltd. succeeded in obtaining $3.5 million (about 500 million JPY) in startup capital from Sony Network Communications Inc, via a private sale of newly issued shares. Both the businesses have appointed Jun Watanabe, President and Representative Director of Sony Network Communications Inc, as a director of Startale Labs is associated with their collaboration.
Prominent tech firm Startale Labs is based in Singapore. The company seeks to create cutting-edge products with a focus on Web3 infrastructure to facilitate the wide implementation of Web3 technology.
The goal of Startale Labs, a software startup committed to developing Web3 infrastructure, is to create “Web3 for Billions.” Startale Labs is developing tools and infrastructure to promote business usage of Web3 and more widespread adoption, drawing on its experience and relationships acquired as a key partner to Astar Network.
Japanese multinational technology company Sony has expressed interest in breaking into the expanding NFT gaming market. In this connection, the corporation famed for its PlayStation video game consoles established a regional office in Singapore to carry out contractual development and consultancy work pertaining to NFT goods.
The partnership with Sony isn’t the only time a major Japanese company has entered the blockchain industry or used Web3.0-focused technologies. The smart contracts platform partnered with Japan’s top cellular carrier NTT Docomo to work together on widespread implementation of Web3 along with its social deployment in order to hasten the expansion of Web3 in their home country.
Sona Watanabe CEO of Startale labs and ASTAR Network tweeted that he’s thrilled to further develop the partnership with Startale Labs, a business with innovative Web3 technologies and know-how. Furthermore he added that they have already been working with Startale Labs to foster the growth of Web3 by co-hosting incubator programmes.