Artela, a FinTech start-up focused on enhancing blockchain’s scalability, announced that it has successfully raised a $6m seed funding round.
The funding endeavour, led by Shima Capital, witnessed enthusiastic participation from a cluster of investors, including A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, and Amino Capital, amongst others.
Delving deeper into what Artela brings to the table, it is developing a cutting-edge base layer blockchain network. This network, by employing aspect programming, facilitates the design and operation of infinitely scalable decentralised applications (dApps). The dynamic creation of native extension modules for blockchain at runtime, which the aspect programming supports, enhances on-chain programmability and allows developers to construct feature-rich dApps.
The freshly acquired funds will be channelled towards accelerating Artela’s technology development, expanding the team, and spearheading market penetration strategies. The company’s aim is to augment the flexibility and robustness of its blockchain network and amplify its capacity to support complex dApps.
Additional information points towards the impending release of Artela’s whitepaper for its user-defined extension, Aspect. This extension is poised to improve programmability whilst retaining compatibility with smart contracts. Also, Artela’s blockchain network is well-equipped to support lightweight dApps such as NFTs and DeFi, while enabling the inclusion of specific functionalities to dApps like on-chain automation and transaction privacy.
Artela’s founder and CEO, Jerry Li, remarked on the funding success, “The seed round marks an important step for Artela, enabling us to fuel Artela’s technology development, grow the team, and drive market expansion efforts. We’re excited to onboard a diverse yet like-minded investor base, which helps build a solid foundation for future growth.”
Yida Gao, the founder & managing general partner of Shima Capital, also weighed in, expressing, “With Artela, it is possible to achieve effects that are similar to those of a conventional full-featured operating system, enabling more comprehensive and advanced tasks that are not possible with existing blockchains.”
This recent seed funding round constitutes the first reported investment in the promising blockchain start-up, Artela.
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