Inflection.xyz and Village Global jointly led an investment round to raise $3.6 million for LabDAO, a decentralized autonomous organization with an emphasis on open-source drug research.
LabDAO Successfully Completes $3.6 Million Funding Round
Other participants in the financing round included the following companies and names:
- North Island Ventures
- Seed Club Ventures
- ID Theory
- Road Capital
- Curve Labs
- gmjp.lol
- Molecule
- Gnosis DAO
- The LAO
- Orange DAO
- Beaker DAO
- Spaceship DAO
- Former Coinbase chief technology officer Balaji Srinivasan
In addition, the PLEX software platform was launched alongside the financing.
PLEX Sofware Platform
The client, known as PLEX, enables scientists to communicate with the Lab exchange. The service will initially only be able to run computational services. In addition, physical lab services will be added later. LabDAO has standardized computational services that require a lot of resources to make it easier to run data. Scientists can then demonstrate ownership of their data by linking the output to non-fungible tokens (NFT).
Over the last couple of years, artists were able to go directly into the NFT movement. They were able to create artwork and share that with their followers. Scientists are also creators – you could say to some extent that scientists are the original creator class. They should also be able to create artwork and share that with their followers,
Niklas Rindtorff, Co-Founder And CEO Of The Openlab Association
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