Artela recently announced that it had raised over $6 million in seed round funding led by Shima Capital with participation from A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, Amino Capital, and others.
The company aims to build a base-layer blockchain network to meet the increasing demand for large-scale decentralized applications. And Artela’s innovative design allows developers to build native extensions on top of the blockchain’s base layer in a modular manner, enabling more on-chain programmability. This approach will support developers to realize customized functionality in a lightweight and dynamic way, opening doors for faster innovations and more possibilities.
Artela has an extension layer that enables the addition of a user-defined native extension called Aspect, which enhances programmability while ensuring compatibility with existing smart contracts. Artela plans to publish the Aspect white paper and launch the initial testnet later this year.
KEY QUOTES:
“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.”
— Founder and CEO of Artela Jerry Li
“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. Shima supports strong, innovative founders, and we’re proud to be on this journey with Artela.”
— Yida Gao, Founder & Managing General Partner of Shima Capital
