# MachineFi Lab

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/machinefi-lab

- Industry: Software
- Headquarters: US
- Website: www.machinefi.com
- Total disclosed funding: $10M
- Latest round: Seed (Jun 7, 2022)
- Investors on record: 15

## About

Based in California, US, MachineFi Lab operates as a platform that is built for developers to create decentralized apps (dApps) and enable users to financialize smart devices and machines. The company is the core developer of IoTeX. In June 2022, MachineFi Lab raised USD 10 million in seed funding co-led by new investors Draper Dragon Fund, Jump Crypto, and Samsung NEXT Ventures, with participation from other new investors Alpha Grep Securities, DHVC, Escape Velocity Pty Ltd, Goodwater Capital, Hanwha Investment & Securities, HashKey Capital, IOSG Ventures, NewBuild Venture Capital, Ribbit Capital, VistaLab Technologies, WeMade Entertainment Co., Ltd. and Xoogler. co. As of July 2022, the company is led by its CEO Raullen Chai. 

MachineFi Lab offers a full-stack platform across hardware, firmware, and software with EVM blockchain for smart contracts, API, multichain crypto wallet, software development kits (SDKs), and blockchain bridge for creating dapps and machine networks. MachineFi enables users to earn digital assets and reputations through their real-world actions and bridging together the metaverse and the physical realm.

The company plans to use the seed funding to further develop its platform, hire employees and incubate early-stage projects building on the platform.

## Funding rounds

- Seed, Jun 7, 2022, $10M — WeMade Co., Ltd., Ribbit Capital, DHVC, Goodwater Capital, Samsung NEXT Ventures, Hanwha Investment & Securities, HashKey Capital, Draper Dragon Fund, IOSG Ventures, Xoogler.co, Jump Crypto, Alpha Grep Securities, Escape Velocity Pty Ltd, VistaLab Technologies, NewBuild Venture Capital

## Investors

- WeMade Co., Ltd. — Seed
- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Seed
- DHVC (https://capitalatlas.ai/funds/dhvc) — Seed
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Seed
- Samsung NEXT Ventures (https://capitalatlas.ai/funds/samsung-next-ventures) — Seed
- Hanwha Investment & Securities (https://capitalatlas.ai/funds/hanwha-investment-securities) — Seed
- HashKey Capital (https://capitalatlas.ai/funds/hashkey-capital) — Seed
- Draper Dragon Fund — Seed
- IOSG Ventures (https://capitalatlas.ai/funds/iosg-ventures) — Seed
- Xoogler.co — Seed
- Jump Crypto — Seed
- Alpha Grep Securities — Seed
- Escape Velocity Pty Ltd — Seed
- VistaLab Technologies — Seed
- NewBuild Venture Capital (https://capitalatlas.ai/funds/newbuild-venture-capital) — Seed