Samsung Next Extends Partnership with Startale Labs to Propel Sony’s New Blockchain Venture, Soneium

Samsung Next, the venture capital arm of the Samsung Group, has announced an extension of its partnership with Singapore-based Startale Labs, further solidifying its commitment to advancing Web3 technologies. This extended collaboration will see Samsung participating in the newly launched Soneium Spark Incubation Program, a key initiative under Sony’s blockchain project, Soneium.

The Japanese electronics giant Sony revealed on August 23 the launch of its blockchain, Soneium, in collaboration with Startale Labs. The initiative, spearheaded by Sony Block Solutions Labs (Sony SBL)—a joint venture between Sony Group and Startale Labs—is set to accelerate innovation in the Web3 space. Soneium will be built on a new layer-2 network atop the Ethereum blockchain, aiming to create more efficient and accessible Web3 experiences.

Samsung Next’s investor, John Yim, expressed enthusiasm about the deepening collaboration with Startale Labs. “We are excited to extend our partnership with Startale Labs by participating in the Soneium Spark Incubation Program,” Yim stated. He highlighted the program’s focus on nurturing visionary creators and innovators, transforming groundbreaking ideas into market-ready solutions that promise sustainable, long-term success in the rapidly evolving Web3 industry.

This partnership builds on a series of investments that underline the strategic importance of Web3 technologies for both Samsung and Sony. In February, Startale Labs secured a $3.5 million extension round from Samsung Next and UOB Venture Management, bringing its total funding to $7 million. This followed a previous $3.5 million investment from Sony in September 2023, which underscored Startale Labs’ pivotal role in overcoming key challenges in the Web3 ecosystem.

According to Yim, Startale Labs is at the forefront of providing essential tools and infrastructure that address high entry costs, lack of interoperability, and technical complexity—barriers that have historically hindered the scalability and accessibility of Web3 technologies. “Their solutions effectively make Web3 technologies more accessible and scalable for developers and businesses alike, playing a crucial role in building the foundation for a decentralized future that promises greater autonomy and innovation across industries,” Yim added.

Sony SBL’s ambitious vision for Soneium centers on simplifying Web3 experiences and boosting their accessibility and efficiency. By leveraging the Optimism blockchain ecosystem’s OP Stack, Soneium will allow developers to create customized networks that connect through the “Superchain,” enabling seamless interoperability within the ecosystem.

Jun Watanabe, Chairman of Sony Block Solutions Labs, emphasized that the current Web3 community is still limited to a small group of core users and that no “killer use case” has yet reached mainstream adoption. “Soneium aims to tackle these challenges by creating new use cases with the aim of reaching as many users as possible with the customer value that can be enjoyed only with Web3 technology,” Watanabe said.

Soneium is poised to deliver a diverse range of applications, including those in gaming, finance, and entertainment, making it a cornerstone of Sony’s strategy to introduce Web3 technologies to mainstream markets through its extensive distribution network.

The extended partnership between Samsung Next and Startale Labs signals a robust commitment to fostering innovation in the Web3 space, with Soneium positioned to be a transformative force in bringing decentralized technologies to a broader audience. As the Soneium Spark Incubation Program gears up to support the next wave of Web3 developers and entrepreneurs, the blockchain community will be watching closely to see how this collaboration shapes the future of decentralized finance and digital experiences.

Thomas Lin
Digital Assets Desk