Sony Network Communications and Startale Labs Form Joint Venture to Build a blockchain
Tokyo, Japan / Singapore – September 12th, 2023
Sony Network Communications and Startale Labs are thrilled to announce that they have entered into a joint venture agreement dedicated to developing a blockchain that can become the backbone of global web3 infrastructure by combining their expertise, skillset, and network of partners. As blockchain technology continues advancing, the teams will harness it to its fullest potential and focus on creating killer web3 use cases to drive the adoption of web3. The joint venture company will be established in September, as “Sony Network Communications Labs Pte. Ltd.”.
With its involvement across Sony Group’s diverse business segments such as game and network services, music, pictures, entertainment technology and services, imaging and sensing solutions, and financial services, the new company will aim to provide value-added services in various business arenas.
Commenting on this strategic collaboration, Jun Watanabe, President and Representative Director of Sony Network Communications stated: "We are excited to announce the establishment of this joint venture with Startale Labs, a company renowned for its advanced Web3 technology and expertise. By combining Sony Network Communications' experience in communication, IoT, AI, and solution services with Startale Labs' insights and technical prowess in Web3, we aspire to create a global infrastructure that underpins the Web3 era, driving innovation across existing industries."
Sota Watanabe, CEO of Startale Labs, shared his thoughts: "Following our capital partnership with Sony Network Communications in June and the subsequent announcement of this joint venture, we are looking forward to collaborating more deeply. This joint venture is founded on the synergy of our respective assets and knowledge, aimed at co-developing leading blockchain and its ecosystem. We are determined to discern web3 trends and drive them globally."
| Company Name | Sony Network Communications Labs Pte. Ltd. |
|---|---|
| Address | 105 Cecil Street #24-02 The Octagon Singapore 069534 |
| Date established | September 2023 |
| Chairman | Jun Watanabe |
| Capital | 1,000,000 SGD |
| Investment ratio | Sony Network Communications: 90% Startale Labs: 10% |
| Services | The planning, development, and related business activities concerning blockchain. |
| URL | https://www.sonynetwork.co.jp/sonynetworkcomlabs/ |
About Sony Network Communications Inc.
Sony Network Communications Inc, a Sony Group company, was established in 1995 as an Internet service provider. In addition to its telecommunications business, including the high-speed fiber-optic broadband service “NURO Hikari”, the Company is engaged in businesses such as IoT, AI, and solution services. Based on its corporate vision “INFRASTRUCTURE of CHANGE — For all humanity,” Sony Network Communications also promotes diverse incubation and new businesses, including the Web3 area.
https://www.sonynetwork.co.jp/sonynetworkcomlabs/
About Startale Labs
Startale Labs is a leading technology company headquartered in Singapore. With a focus on Web3 infrastructure, the company aims to build innovative products to enable the widespread adoption of Web3 technologies.
Company Name: Startale Labs Pte Ltd
Address: 105 Cecil Street #24–02 The Octagon, Singapore
Representative: CEO Sota Watanabe
Corporate Website: https://startale.org/
