Spatial Labs, a Los Angeles, CA-based infrastructure company powering Web3 technologies to redefine the consumer experience, raised $10M in Seed funding.
The round, whose close brings total funding to over $14m, was led by Blockchain Capital, with participation from Jay-Z’s Marcy Venture Partners.
The company intends to use the funds to support efforts to scale and diversify its proprietary blockchain-enabled tech stack, deepen its presence across the consumer goods landscape, and expand into other industries, including media and entertainment. It will also be allocated towards a range of technical, business, and strategic team development efforts targeting C-Suite executives.
Founded by technologist and entrepreneur Iddris Sandu, Spatial Labs is an industry hardware/software infrastructure company powering the next generation of Web3 technology. Its first product, LNQ, an innovative blockchain-enabled hardware platform, was publicly launched in May 2022. The LNQ One Chip, a proprietary 13mm microchip, allows any item to be scaled into a traceable digital asset on the blockchain and provides owners with a digital ledger that tracks a physical item’s authenticity, origin, ownership history, real-time value and enables added benefits such as loyalty incentives, enhanced insights and more.
The LNQ On-Chain Network is powered by Polygon.
FinSMEs
26/01/2023