Web3 Startup BuildBear Labs Secures $1.9M in Recent Funding Round

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Singapore-based Web 3 firm BuildBear Labs has successfully raised approximately $1.9 million in a recent funding round to develop its flagship platform further. The funding was co-led by Superscrypt, Tribe Capital, and 1kx, and included participation from Iterative, Plug-N-Play, and notable angel investors like Kris Kaczor and Ken Fromm.

BuildBear Labs aims to create the world's first Web3-focused Automated and Continuous Testing Engine (ACTE), inspired by tools such as BrowserStack but tailored to address the unique complexities of the Web3 landscape. The company has spent over a year validating its product-market fit through BuildBear Sandbox, an innovative solution allowing developers to create private testnets with explorers, faucets, and RPCs for rigorous decentralized application (dApp) testing in a secure environment.

The BuildBear Sandbox has garnered significant traction, creating over 7,700 sandbox testing environments, boasting an active retention rate of over 35%, and achieving an impressive eightfold growth rate over the last year.

With the recent funding, BuildBear Labs also announced a major milestone – an upgrade to an ultra-powerful engine with 100% throughput, positioning itself as a leading force in the web3 market. This enhancement reflects the firm's dedication to innovation and signals the positive impact of the increased resources resulting from the successful fundraising round.