Web3 Communication Stack Sending Labs Raises $12.5M

The startup creates technology to make decentralized communication easier for developers and users.

AccessTimeIconFeb 16, 2023 at 1:00 p.m. UTC
Updated May 9, 2023 at 4:08 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Sending Labs, which aims to provide an easier way for developers and users to create and interact with decentralized applications (dapps) built around communication, has raised $12.5 million in a seed funding round co-led by Insignia Venture Partners, MindWorks Capital, and Signum Capital. The company also announced the beta launch of its first two products.

The startup's flagship product is the SendingNetwork, a software development kit (SDK) that helps developers create secure dapps that include in-app or cross-app chats, notifications, wallet or decentralized ID logins and non-fungible token (NFT) transactions. There is also SendingMe, an encrypted, decentralized group chat platform built on the SendingNetwork. Users have full control of their identification, data and assets. Communities have full autonomy on interactions, engagement and rewards.

  • Aptos' APT Token Down 52% in April After Booming March: VanEck
    Aptos' APT Token Down 52% in April After Booming March: VanEck
  • Key Events You Shouldn't Miss at Consensus 2024
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    Will Solana and Altcoins Dominate the Market Next?
  • Decentralized ownership, a key tenet of crypto, has garnered even more attention after the collapse of multibillion-dollar crypto exchange FTX. Web3 – a vertical often centered around communities – has a particular responsibility to give users control over their assets and identities.

    “We firmly believe that Web3 and decentralized group messaging is the first step to return data ownership back to the user,” Sending Labs co-founder and CEO Joe Yu said in a statement. “Closing this funding round and launching our beta simultaneously shows a clear vote of confidence in our products and their potential to spark holistic Web3 growth. This can only be done by creating tools that work for builders creating its architecture and for users harnessing its community-building power.”

    The Austin, Texas-based company was co-founded by Yu and Mason Yang, who also co-founded MoboTap, the company behind early Android-based mobile app Dolphin.

    Other investors backing the round included K3 Ventures, Lingfeng Innovation Fund, UpHonest Capital and Aipollo Investment.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.