Spatial Labs secures $10 million in seed funding led by Blockchain Capital
Spatial laboratoriesthe leading infrastructure company driving new technologies to redefine the consumer experience for the next generation, today announced a $10 million seed funding round led by Blockchain Capital, a leading venture firm in the blockchain industry.
Jay-Z Marcy Venture Partners has also returned to participate in this round. End of seed round
bringing the company’s total funding to over $14 million.
“Our investment in Spatial Labs reflects our view that this technology is a one-of-a-kind
opportunity to solve some of the landscape’s most complex challenges,” said Bart Stephens, Founder &
Managing Partner in Blockchain Capital.
“By empowering new business models, delivering immersive experiences and providing insight into consumer needs, Spatial Labs will continue to shape and drive the future of commerce and connectivity in the Web3.”
“Spatial Labs designs next-generation technologies to connect brands with younger shopping demographics
and interact with products in completely new ways. Through our technology solutions, we deliver
brands with rich consumer data and previously unavailable revenue models,” said Iddris SanduFounder
by Spatial Labs.
“The consumer goods industry is at a key turning point. Collaboration with ambitious,
innovative investors who align with our core ethos will enable Spatial Labs to continue to deliver
concrete innovations that brands and consumers demand.”
The new capital will support efforts to scale and diversify Spatial Labs’ proprietary blockchain-enabled assets
tech stack, deepen the company’s footprint across the consumer goods landscape, and expand to
other industries, including media and entertainment. It will also be allocated to an array
technical, business and strategic team development work aimed at C-Suite executives. These
initiatives are intended to accelerate Spatial Labs’ consumer-centric product innovation and continued
rapid growth.
“Spatial Labs has already demonstrated incredible innovation in technology and culture. Iddris and team
have the acumen to seamlessly connect products in the physical and digital worlds, and create products that
create user delight,” said Larry Marcus Co-founder and CEO of Marcy Venture Partners.
This is the second investment from Marcy Ventures Partners, following a pre-seed raise of $4 million
in 2021 to support the debut of Spatial Labs and the launch of LNQ, an innovative, state-of-the-art chip
platform that uses blockchain technology to authenticate products and unlock digital twins. Additional
the investments came from experienced founders and entrepreneurs, including Ron Burkle (co-founder of
Yucaipa capitalFounder of the Soho House group), Scooter Braun (raised in Space VC Studio), Anthony
Tolliver (former NBA player, principal at Wealthlete Private Equity), and Bobby Wagner (Seattle
Seahawks linebacker and partner of VC Studio Fuse Venture Partners).
Founded by 25-year-old entrepreneur and business creative Iddris Sandu, Spatial Labs is committed to
create vertically integrated hardware and software solutions that act as a physical entry point to
the digital world – while also delivering practical utility. LNQ One Chip, a proprietary 13mm microchip,
allows any item to be scaled into a traceable digital asset on the blockchain and gives owners a
digital ledger that tracks a physical item’s authenticity, origin, ownership history, real-time value and
enabling additional benefits such as loyalty incentives, improved insights and more.
In addition to strengthening more conscious consumption, LNQ One Chip opens new post-secondary
revenue models and is poised to completely revolutionize the brand-to-consumer relationship i
physical and digital world. This technology provides an efficient solution for brands, retailers and
creators to reach and engage with their core audience, resulting in increased loyalty and consumerism
lifetime value.
The LNQ On-Chain Network is powered by Polygon, the leading blockchain development platform
offers scalable, affordable, secure and sustainable blockchains for Web3. The two companies
teamed up in December to release their first official collaboration, ‘Orbs by Spatial Labs’ x Polygon, a
double-layer round neck in cotton embedded with the signature LNQ One Chip. The exclusive offer
has a generative graphic on the front and branding on the back. By scanning the Orb, users can see
an exclusive AR experience and gain access to future drops and Spatial Labs + Polygon ticketed events.
Since its inception in 2020, Spatial Labs has delivered the most innovative hardware-software
infrastructure that shapes the future of commerce, consumer experience and connectivity between brands
and the next generation. For more information about Spatial Labs, please visit slabs.one.
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ABOUT SPATIAL LABS
Spatial Labs (sLABS) is an industry-leading hardware/software infrastructure company driving the next
generation of Web3 technology. Founded by technologist and entrepreneur Iddris Sandu, Spatial Labs is
committed to driving innovation at the intersection of culture, community, connectivity and borderless
design to revolutionize the future of the human experience. The company’s first product LNQ, a
innovative state-of-the-art blockchain-enabled hardware platform, publicly launched in May 2022.
LNQ aims to make the Web3 more accessible and provide creators with decentralized tools to engage
with their communities through LNQ’s proprietary real-time processing stack.
To learn more, visit slabs.one.
ABOUT BLOCK CAPITAL
Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain
the tech industry and the crypto ecosystem. Blockchain Capital has raised seven and distributed five previous venture funds, including the first ever ICO of a venture fund (BCAP) in April 2017. The firm is
based in San Francisco and was founded by serial entrepreneur and Silicon Valley investor Bart
Stephens and Brad Stephens. To learn more, please visit www.blockchaincapital.com or follow
@blockchaincap on Twitter.
ABOUT MARCY VENTURE PARTNERS
Marcy Venture Partners (MVP) was co-founded by Shawn Carter (JAY-Z), Jay Brown and Larry Marcus.
MVP has a passion for building game-changing businesses and mass market brands. The company invests in
Consumer and culture with an emphasis on positive impact including sustainability, inclusion,
accessibility, empowerment and health and well-being. Our companies are led by exceptional management
team with clear vision, purpose and execution. We manage or co-invest in companies such as
have meaningful brand values, high customer satisfaction driven by an outstanding product, demonstrated
growth and clear catalysts for the next level of scale.
