Shantel
Key Takeaways
- Shima Capital announces its investment in a $6 million seed round for Artela Network, a blockchain infrastructure startup.
- Artela’s unique network architecture aims to answer the need for large-scale, decentralized apps.
- Artela is developing an extension layer, Aspect, to enhance programmability and seamless integration with existing smart contract models.
About the Investment
Shima Capital, a venture capital firm focused on the web3 sector, today announced its seed round investment in Artela Network, a blockchain infrastructure startup. The funding round, which raised $6 million, also saw participation from other investors, including A&T Capital, Big Brain Holdings, SevenX, Dispersion, Amino, and others.
Advancing Decentralized Apps
The Artela team is developing a unique solution aimed at addressing the growing demand for large-scale, decentralized apps. This involves creating a base-layer blockchain network that encourages developers to build custom extensions in a modular style directly on the blockchain’s base layer. This approach enhances programmability within the blockchain and enables developers to create custom functions more efficiently, speeding up innovation and expanding the realm of possibilities.
Anticipated Developments
Founder and Managing General Partner at Shima Capital, Yida Gao, expressed excitement about the future of Artela, which is introducing an extension layer called Aspect. This layer will allow the inclusion of a user-defined native extension, boosting programmability and ensuring seamless integration with existing smart contract models. The company has announced plans to release the Aspect whitepaper and initiate the first testnet later in 2023.
About Shima Capital
Founded by Yida Gao in 2021, Shima Capital is a leading early-stage VC firm investing in disruptive blockchain companies. The firm is known for its hands-on approach and close collaboration with its portfolio companies, helping them recruit talent, build communities, amplify narratives, and accelerate technical research and development. Comprising seasoned investors, accomplished operators, and former founders, Shima Capital is dedicated to supporting all-star teams in building and scaling generational companies.
For more information on Shima Capital, visit www.shima.capital. For more on Artela, visit www.artela.network.
