# Delegate Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/delegate-labs

- Industry: Software
- Headquarters: US
- Website: www.delegate.xyz
- Total disclosed funding: $9M
- Latest round: Seed (Feb 1, 2024)
- Investors on record: 4

## About

Based in the US and founded in 2022, Delegate Labs, also known as Delegate.xyz, operates as a financial technology company that offers on-chain identity solutions for NFT owners and users. The company was founded by its CEO, Foobar. In February 2023, Delegate raised USD 9 million in seed funding from Arrinton Capital, Electric Capital, Variant, and Arca.

Delegate offers a security-focused protocol that protects on-chain assets, mainly NFTs and cryptocurrencies. The products and solutions offered by the company include Delegate Wallet, a platform for users to link their hot wallets together that allows users to claim airdrops, prove token ownership, and more without having to expose their main wallet with valuable assets; a marketplace that allows users to buy and sell delegate rights that allows NFT owners to grant temporary access to their NFTs for specific purposes, such as participating in games or claiming airdrops.

The company plans to use the funds raised in February 2024 to develop its Web3 domain protocol clusters.

## Funding rounds

- Seed, Feb 1, 2024, $9M — Arrington Capital, Electric Capital, Arca Investment Management, Variant

## Investors

- Arrington Capital — Seed
- Electric Capital (https://capitalatlas.ai/funds/electric-capital) — Seed
- Arca Investment Management — Seed
- Variant (https://capitalatlas.ai/funds/variant) — Seed