Spatial Labs Raises $10M in Seed Funding
Summary
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. Founded by technologist and entrepreneur Iddris Sandu, Spatial Labs is an industry hardware/software infrastructure company powering the next generation of Web3 technology. 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.