Extending Boundaries: Artela Raises Over $6M to Revolutionize Decentralized Applications
The demand for large-scale decentralized applications is growing as industries embrace the potential of blockchain technology. The global blockchain market size is poised to generate revenue over $94.0 billion by the end of 2027, projecting a CAGR of around 66.2% from 2022 to 2027, according to a MarketsandMarkets report.
The need for innovative solutions to accommodate this surge has become more pressing. One company stepping up to the challenge is Artela, a pioneering startup on a mission to build a base-layer blockchain network that promises to redefine the future of decentralized applications.
Artela is an extensible blockchain network enabling developers to build feature rich dApps. Artela is dedicated to enhancing the extensibility of blockchain, empowering developers to easily customize their apps in a modular manner and driving faster innovations in Web3.
Extending the boundaries of blockchain technology, Artela successfully raised over $6 million in seed round funding, marking a milestone step for Artela, fueling its technology development, expanding its team and propelling its market expansion efforts.
At the heart of Artela's innovation lies a visionary design that enables developers to build native extensions on top of the blockchain's base layer in a modular manner. This unique approach grants greater on-chain programmability, empowering developers to unleash their creativity and bring about customized functionality. By offering a lightweight and dynamic solution, Artela opens doors for faster innovations and a myriad of possibilities previously unexplored in the realm of decentralized applications.
With its technology, developers can achieve effects comparable to those of conventional full-featured operating systems, a feat that remains elusive with existing blockchains. This opens the door to more comprehensive and advanced tasks, unlocking the full potential of decentralized applications, according to Artela Founder and CEO Jerry Li.
Shima Capital, a venture capital firm, led the investment, with notable participation from A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, Amino Capital and other strategic investors.
Edited by Alex Passett
