Quick take:
- Artela has raised $6 million in a seed round led by Shima Capital.
- The fundraising also attracted participation from A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, and Amino Capital, among others.
- Artela will use the funds to accelerate the development of its highly scalable base-layer blockchain network.
Artela has completed a $6 million funding round led by Shima Capital. The company is building a base layer blockchain network to enable the development of infinitely scalable dApps.
Shima Capital was joined in the seed round by A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, and Amino Capital, among others.
According to the company’s website, Artela uses aspect programming, a coding mechanism that supports the dynamic creation of native extension modules for blockchain at runtime. This empowers developers to add user-defined native extensions and build feature-rich dApps, enabling more on-chain programmability.
Commenting on the fundraising, Founder and CEO of Artela Jerry Li 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.”
On the other hand, Yida Gao, Founder & Managing General Partner of Shima Capital commented: “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.”
Artela’s is set to release the whitepaper for its user-defined extension Aspect later this year. The extension enhances programmability while maintaining compatibility with smart contracts.
Artela Programming offers developers a software development kit and a WebAssembly required to build native extensions on the Artela Blockchain.
The Artela blockchain network can be used to build light dApps like NFTs and DeFi, as well as, incorporate specific functionality to dApps like on-chain automation and transaction privacy, among other features.
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