As a result of the walled garden issue, social networks such as Twitter are banning third-party clients exemplifying the ban on web 2.0. According to reports, the Web3 project may follow suit. Relatively, Sending Labs, which builds a Web3 communications stack, has secured $12.5 million in a seed funding round.
The investment round was led by Hong Kong-based pan-Asian VC firm MindWorks Capital, and Singaporean VC investors Insignia Venture Partners and Signum Capital backed Web3 startups Jambo and Polymer Labs. It also saw participation from K3 Ventures, Lingfeng Innovation Fund, UpHonest Capital and Aipollo Investment.
As a result of the investment, Sending Labs will be able to build the future-focused Web3 communications stack.
Joe Yu, Co-Founder and CEO of Sending Labs said, “Closing this funding round and launching our beta simultaneously shows a clear vote of confidence in our products and their potential to spark holistic Web3 growth. This can only be done by creating tools that work for builders creating its architecture and for users harnessing its community-building power.”
Yinglan Tan, Founding Managing Partner at Insignia Ventures Partners said, “By enabling true ownership and the seamless transfer of digital assets within native community chat scenarios, they are positioning themselves at the forefront of next-generation social communication. We are privileged to be early partners with this team of seasoned operators who are fully invested in building the future of the internet.”
YY Lai, Partner at Signum Capital added, “Joe and Mason have a proven track record of scaling products to reach hundreds of millions of users, and they’re now bringing that expertise to the Web3 space. To engage the next billion users, Web3 needs teams like Sending Labs who will bring solutions that bridge the gap between complexity and user-friendliness. Signum is proud to be one of the first users of SendingMe, their flagship Web3 community chat app built on SendingNetwork.”
Revolutionises the way people communicate
Sending Labs was founded by Joe Yu and Mason Yang in 2022 in New York. The team is made up of ex-MoboTap founders, the company behind Dolphin, one of the earliest Android-based mobile browsers.
The US-based firm builds accessible and secure infrastructures for effective Web3 communication at both the developer and community levels. The company revolutionises the way people communicate in the Web3 era.
Beta launch of flagship products
Besides the seed funding, the company also announced the beta launch of SendingNetwork and SendingMe, its flagship products. These products create a truly decentralised Web3-native hub for secure chat, transactions, and community-building.
SendingNetwork is a developer-focused SDK that assists teams in crafting secure, fully decentralised Dapps with rich social integrations. It gives them the easiest SDK to access all the features they need to engage their in-app community, like in-app/cross-app chats, notifications, wallets, etc.
On the other hand, SendingMe is an encrypted decentralised group chat platform fostering ground-level and user-friendly Web3 growth. It is the next-gen communications app for communities large and small.
Both these flagship platforms feature a comprehensive toolkit for community management and enhanced social features. These platforms let users retain full control of their identification, data, and assets. On the other hand, communities gain full autonomy on interaction, engagement and rewards.
