Absolute Labs Raises $8 Million in Seed Round Financing for Web3 Wallet Relationship Management Platform

On April 12th, according to the official website, Absolute Labs, the developer of Web3 wallet relationship management platform WRM, announced the completion of a seed round financing of $8 million, with Agla é Ventures, Alpha Praetorian Capital, The Luxury Fund, Near Foundation, MoonPay, Plassa Capital, Punja Global Ventures, Samsung Next, Sparkle Ventures (Animoca Brands), and W3i participating. The company plans to use this funds to expand its business and scope.

Absolute Labs completed $8 million seed round financing

Introduction

On April 12th, Absolute Labs, the developer of Web3 wallet relationship management platform WRM, announced the completion of a seed round financing of $8 million. The financing round was participated in by some of the biggest names in the industry, including Alpha Praetorian Capital, Aglaé Ventures, The Luxury Fund, Near Foundation, Samsung Next, and more. With this new influx of capital, Absolute Labs plans to expand its business and scope.

What is Absolute Labs?

Absolute Labs is a developer of blockchain software, which includes the Web3 wallet relationship management platform WRM. The company is based in Hong Kong and was founded in 2018 by a team of experienced entrepreneurs and blockchain experts.

The Significance of the Seed Round Financing

The seed round financing of $8 million is a significant milestone for Absolute Labs. It represents a vote of confidence in the company’s team and platform from some of the top investors in the industry. It also provides Absolute Labs with the necessary funding to expand its business and further develop its platform.

Participating Investors

The financing round was participated in by several well-known investors in the blockchain and crypto space. The investors include:

1. Alpha Praetorian Capital

Alpha Praetorian Capital is a New York-based hedge fund that invests in blockchain technology and cryptocurrencies. The company’s portfolio includes investments in some of the biggest names in the industry, including Bitcoin and Ethereum.

2. Aglaé Ventures

Aglaé Ventures is a Paris-based venture capital firm that invests in startups and growth-stage companies operating in various sectors, including technology, media, and entertainment.

3. The Luxury Fund

The Luxury Fund is a venture capital firm that focuses on investing in companies that operate in the luxury industry. The firm is based in Hong Kong and has investments in several luxury brands, including Giuseppe Zanotti and St. John.

4. Near Foundation

The Near Foundation is a nonprofit organization that is dedicated to promoting the development of decentralized technology. The foundation has made several investments in blockchain startups and projects.

5. Samsung Next

Samsung Next is the investment arm of Samsung, which focuses on investing in startups that are working on innovative technologies, including blockchain.

The Future of Absolute Labs

With the completion of the seed round financing of $8 million, Absolute Labs is well-positioned to continue its growth trajectory. The company plans to use the new funding to expand its business and further develop its platform. Absolute Labs is optimistic about the future of blockchain technology and believes that its platform will play a vital role in the ever-evolving blockchain ecosystem.

Conclusion

The seed round financing of $8 million is a significant milestone for Absolute Labs and its Web3 wallet relationship management platform WRM. With this new funding, Absolute Labs is poised for continued growth and success in the blockchain space.

FAQs

1. What is WRM?

WRM is a Web3 wallet relationship management platform developed by Absolute Labs. The platform provides users with a suite of tools to manage their cryptocurrency assets, including wallets, exchanges, and other services.

2. Who participated in the seed round financing of $8 million?

The seed round financing was participated in by several well-known investors, including Alpha Praetorian Capital, Aglaé Ventures, The Luxury Fund, Near Foundation, Samsung Next, and more.

3. What are the plans of Absolute Labs with the new funding it has raised?

With the new funding, Absolute Labs plans to expand its business and further develop its platform, which it believes will play a vital role in the ever-evolving blockchain ecosystem.