Share this article
Web3 Communication Stack Sending Labs Raises $12.5M
The startup creates technology to make decentralized communication easier for developers and users.
By Brandy Betz
Updated May 9, 2023, 4:08 a.m. Published Feb 16, 2023, 1:00 p.m.
Sending Labs, which aims to provide an easier way for developers and users to create and interact with decentralized applications (dapps) built around communication, has raised $12.5 million in a seed funding round co-led by Insignia Venture Partners, MindWorks Capital, and Signum Capital. The company also announced the beta launch of its first two products.
The startup's flagship product is the SendingNetwork, a software development kit (SDK) that helps developers create secure dapps that include in-app or cross-app chats, notifications, wallet or decentralized ID logins and non-fungible token (NFT) transactions. There is also SendingMe, an encrypted, decentralized group chat platform built on the SendingNetwork. Users have full control of their identification, data and assets. Communities have full autonomy on interactions, engagement and rewards.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Decentralized ownership, a key tenet of crypto, has garnered even more attention after the collapse of multibillion-dollar crypto exchange FTX. Web3 – a vertical often centered around communities – has a particular responsibility to give users control over their assets and identities.
“We firmly believe that Web3 and decentralized group messaging is the first step to return data ownership back to the user,” Sending Labs co-founder and CEO Joe Yu said in a statement. “Closing this funding round and launching our beta simultaneously shows a clear vote of confidence in our products and their potential to spark holistic Web3 growth. This can only be done by creating tools that work for builders creating its architecture and for users harnessing its community-building power.”
The Austin, Texas-based company was co-founded by Yu and Mason Yang, who also co-founded MoboTap, the company behind early Android-based mobile app Dolphin.
Other investors backing the round included K3 Ventures, Lingfeng Innovation Fund, UpHonest Capital and Aipollo Investment.
Read more: Crypto Winter Led to 91% Plunge in VC and Other Investments for January
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Two Casascius Coins Holding 2K BTC Moved After 13 Years of Inactivity
The Casascius coins were designed as offline cold storage with embedded private keys, but the project was shut down in 2013 due to regulatory pressure from FinCEN.
What to know:
- Two long-dormant bitcoin wallets tied to physical Casascius coins moved 2,000 BTC ($180M) after over a decade of inactivity.
- The Casascius coins were designed as offline cold storage, containing embedded private keys, but the project was shut down in 2013 due to regulatory pressure from FinCEN.
- The recent transfers' purpose is unclear, but could be linked to degrading physical components or precautionary moves to preserve access.
Top Stories
