Artela secures $6m for base-layer blockchain network development

Artela, a start-up on a mission to build a base-layer blockchain network for large-scale decentralized applications, announced today that it has successfully raised over $6 million in seed funding.

The funding round was led by Shima Capital and saw participation from investors such as A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, Amino Capital, among others.

Yida Gao — Shima Capital Founder and Managing General Partner said: “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.”

Artela’s innovative blockchain design allows developers to create native extensions on top of the blockchain’s base layer in a modular manner. This new approach will offer on-chain programmability, enabling developers to customize functionality in a dynamic, lightweight way, paving the way for faster innovation and broader possibilities in the field.

In its bid to enhance programmability and ensure compatibility with existing smart contracts, Artela has developed an extension layer, termed ‘Aspect’. This layer allows users to add a user-defined native extension, which Artela intends to elaborate further in their upcoming Aspect white paper. The company also has plans to launch the initial testnet later this year.

Artela’s focus on enhancing the extensibility of blockchain aims to empower developers to customize their applications easily and drive faster innovations in Web3. The firm is steadfast in its commitment to enabling developers to build feature-rich decentralized applications (dApps) using their extensible blockchain network.

Jerry Li — Artela Founder and CEO said: “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.”