OnchainLabs Raises 5 Million CHF in Seed Round for Web3 SaaS Solution
OnchainLabs, a Swiss-based Web3 technology company, has successfully closed a seed funding round, raising 5 million Swiss francs (CHF) from prominent German investors. The funding comes shortly after the company's announcement in early July 2024 of its non-custodial Onchain Gateway Wallet (OG Wallet). This investment marks a significant milestone for OnchainLabs and demonstrates strong support for its vision of connecting products with the digital world through blockchain technology.
The seed round was led by Jochen Roeser, founder of Adesso, and his investment firm MediaGate. Other key investors include Prof. Dr. Volker Gruhn and German professional footballer Ilkay Gündogan. The company also continues to receive support from its original investors, Thomas Staubli and Patrick Lütjens. This diverse group of backers brings not only financial support but also strategic advantages and extensive business connections.
OnchainLabs is developing a scalable Web3 Software-as-a-Service (SaaS) solution aimed at making blockchain technology easily accessible to brands and businesses. Their recently announced OG Wallet is designed specifically for blockchain newcomers, simplifying digital asset management and incorporating pay-in and pay-out capabilities using traditional payment methods. The company has already implemented its solution with Swiss firm CrowdTransfer, offering football fans opportunities to participate in club financing and player transfers.
As part of the investment deal, OnchainLabs will acquire all assets and employees of MediaGate. This includes a valuable NFT collection from the virtual soccer and cryptocurrency-based gaming site Sorare, worth seven figures and generating regular revenue through Sorare's play-to-earn program. Richard Roeser will continue to manage this collection, adding a significant asset to OnchainLabs' portfolio.
The company is also strengthening its leadership team. Tobias Schneider, a serial entrepreneur and former Olympic athlete, will join OnchainLabs as part of the founding team and assume the role of Chief Operating Officer. His experience is expected to enhance the company's business development efforts as it positions itself for growth. The founding team, including Naemi Hügli, Tobias Schneider, and CEO Florian Ehrbar, expressed pride in the investors' confidence and commitment to becoming a major player in the blockchain industry.
Following this successful funding round, OnchainLabs is focusing on team growth and improving product delivery. The company has announced plans to relocate to Crypto Valley in Zug, Switzerland, placing itself at the heart of the country's blockchain hub. OnchainLabs remains dedicated to its mission of making Web3 more accessible to brands and enterprises, with the goal of redefining user engagement and retention in the digital space.
