Spatial Labs (sLABS) announces a $10 million raise in seed funding to expand its web3-enabled wearables and its secondary marketplace LNQ. Blockchain Capital led the round with participation from Jay-Z’s Marcy Venture Partners. This brings Spatial Lab’s funding to $14 million in total at the time of reporting.
Previous investors in the round include Ron Burkle (co-Founder of Yucaipa Capital, founder of Soho House group), Scooter Braun (Raised in Space VC Studio), Anthony Tolliver (former NBA player, principal at Wealthlete Private Equity), and Bobby Wagner (Seattle Seahawks linebacker and partner of VC Studio Fuse Venture Partners).
The company’s proprietary chip connects physical products to exclusive online and real-world experiences. The technology also allows the ownership and authenticity of items to be tracked via Polygon’s blockchain.
Iddris Sandu, the founder of Spatial Labs, stated that the company plans to use this new funding to further scale its blockchain-enabled tech stack, expand its footprint in consumer goods and explore other industries including media and entertainment.
