Web3 Startup D3 Labs Raises Pre-Sponsored Funding from Several Investors

Web3 startup D3 Labs announced that it has secured pre-seed funding with an undisclosed amount from a number of investors, including Saison Capital, Kinesys Capital, Arkana Capital, EX Capital, Qredo, DS/X Ventures, as well as UOB Venture Management and Signum Capital through the UVM Signum Blockchain fund.

The use of the fresh funds that were obtained in January 2023 is focused on developing the MVP product which will be launched this May. At the same time, the company will raise additional funds for the same round.

"With the support of investors who believe in D3 Labs' vision, the company is poised to change the face of the financial industry in Southeast Asia through infrastructure solutions programmable money innovative and efficient," he said CEO of D3 Labs Chung Ying Lai in the official statement received DailySocial.id, Wednesday (19/4).

D3 Labs provides technology solutions and infrastructure programmable money for companies looking to leverage automation and efficiency in their internal financial systems.

Programmable money is a concept that uses blockchain technology and smart contracts to create a digital currency that can be programmed to perform certain tasks automatically. With programmable money, safer, more efficient and automated transactions can occur.

"We believe that programmable money will be key in bringing efficiency and flexibility to companies in the region. D3 Labs is committed to developing solutions that can help local companies adapt and compete in an increasingly digital global marketplace. Programmable money can increase financial inclusion by enabling them to participate in the digital economy and access financial services," said Ying.

D3 Labs Products

One of the first products from D3 Labs was SeaSeed, a platform programmable money specially designed for business. SeaSeed enables 24/7 automated transactions real-time between companies and other related ecosystems, improving settlement and reconciliation processes. Programmable money can reduce these costs by eliminating middlemen and enabling transactions peer-to-peer.

"With SeaSeed, D3 Labs is bringing significant change to Southeast Asia by becoming a pioneer in infrastructure solutions programmable money. Programmable money could open up opportunities for the development of new financial products and services tailored to individual or corporate needs, such as blockchain-based insurance or personalized investment instruments."

This product is inspired by Onyx by JP Morgan, a blockchain technology platform developed by JP Morgan. This platform is designed to utilize blockchain technology to increase efficiency, security and transparency in various banking services and products. One of the most well-known products under the Onyx platform is JPM Coin, a digital currency designed to facilitate instant fund transfers and real-time among JP Morgan clients.

He continued, financial inclusion is still a big challenge and a crisis factor in the economies of Southeast Asian countries. Global Findex 2021 data shows that the average level of financial inclusion in the ASEAN region reaches 41%. However, behind this average figure, there is a very wide disparity or gap in the level of financial inclusion.

Many people in Southeast Asia still face barriers in accessing financial services. The main causes of limited financial access in the region include high costs of opening and maintaining a bank account, long distance from financial institutions, lack of required documentation, and low levels of financial education.

According to Ying, the use of technology such as programmable money and other digital financial solutions can help address some of these issues by reducing costs and making access to financial services easier, especially for populations not or underserved by traditional banking systems.

Challenge

programmable money in Southeast Asia faces several challenges that need to be overcome to ensure successful and widespread adoption. Starting from education, infrastructure to integration with traditional financial systems.

"Lack of understanding and education about programmable money among society and companies can hinder the adoption of this technology. Greater efforts are needed to educate the public about the benefits and how it works programmable money. In addition, integration programmable money with traditional banking and financial systems can be a challenge, especially as some banks and financial institutions may be reluctant to work with this new technology."

To address this, D3 Labs is making significant efforts in promotion, marketing, and increasing awareness of the benefits programmable money. The company also undertook an in-depth research and exploration process with clients, launching joint pilot projects to demonstrate the benefits.

Currently D3 Labs is still focusing on the Southeast Asian market, starting its expansion in Indonesia. The plan is that in the near future it will reach other Southeast Asian countries.

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Disclosure: DS/X Ventures is an investment unit owned by DailySocial.id