[Press Release – Fremont, United States, July 12th, 2023]
The Artela team is on a mission to push the boundaries of decentralized applications
Artela announces today that it has raised more than $6 million in seed funding led by Shima Capital, with participation from A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, Amino Capital and others.
Artela is on a mission to build a base layer blockchain network to meet the growing demand for large-scale decentralized applications. Artela’s innovative design allows developers to build native extensions on top of the blockchain base layer in a modular fashion, allowing for greater on-chain programmability. This approach will help developers realize custom functionality in a lightweight and dynamic way, opening doors for faster innovations and more possibilities.
“The initial round marks an important step for Artela, as it allows us to drive Artela’s technological development, grow the team and drive market expansion efforts. We are excited to onboard a diverse but like-minded investor base, helping to build a strong foundation for future growth,” said Artela Founder and CEO Jerry Li.
“With Artela, it is possible to achieve effects similar to those of a full-featured conventional operating system, enabling more comprehensive and advanced tasks that are not possible with existing blockchains,” said Yida Gao, founder and managing general partner. from shima. Capital. “Shima supports strong and innovative founders, and we are proud to be on this journey with Artela.”
Artela has an extension layer that allows adding a native user-defined extension called Aspect, which improves programmability while ensuring compatibility with existing smart contracts. Artela plans to publish the Aspect white paper and launch the initial testnet later this year.
About Artela
Artela is an extensible blockchain network that allows developers to create feature-rich dApps. Artela is dedicated to improving the extensibility of the blockchain, allowing developers to easily customize their applications in a modular way and driving faster innovations in Web3. For more information visit https://www.artela.network
About Shima Capital
Shima Capital is a leading early-stage venture capital firm founded by Yida Gao in 2021. The fund takes a hands-on approach, working closely with portfolio companies to provide the most sweat capital per dollar invested. As the teams at Web3 push the frontier of innovation, Shima helps recruit talent, amplify narratives, and foster the acceleration of technical research and development. For more information, visit https://shima.capital/.
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