Yida Gao and Shima Capital Invest in Blockchain Infrastructure Startup Artela

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Jul 21, 2023, 16:11 ET

The web3 venture capital firm led this $6 million seed round

LOS ANGELES, July 21, 2023 /PRNewswire/ -- Shima Capital today announces its seed round investment in Artela Network, a blockchain infrastructure startup founded by a team of industry veterans. Other contributors in the round include A&T Capital, Big Brain Holdings, SevenX, Dispersion, Amino, and others.

The Artela team is pioneering a unique solution designed to answer the rising need for large-scale, decentralized apps by creating a base-layer blockchain network. The unique architecture of Artela encourages developers to create custom extensions in a modular style directly on the blockchain's base layer. This facilitates improved programmability within the blockchain and equips developers to create custom functions in a nimble and dynamic fashion, speeding up the pace of innovation and widening the scope of possibilities.

"Artela formally brings to web3 the web2 paradigm of aspect-oriented programming by introducing an extensible blockchain network that allows builders to construct modules and extend modular services to achieve chain-native customization within a single public blockchain network," said Yida Gao, Founder and Managing General Partner at Shima Capital.

Shima is excited for what the future holds at Artela. The company is also introducing an extension layer called Aspect which will allow the inclusion of a user-defined native extension. Aspect amplifies programmability and ensures seamless integration with existing smart contract models. The company has said it plans to release the Aspect whitepaper and kick off the first testnet later in 2023.

For more on Shima Capital, visit www.shima.capital. For more on Artela, visit www.artela.network.

About Shima Capital

Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more information visit https://shima.capital/.

Contact:
***@shima.capital

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SOURCE Shima Capital