FinTech news in DEI category

Spatial Labs company made a splash in the industry last year by selling clothes designed by Sandu called Gen One Hardwear, which were embedded with a microchip called LNQ (pronounced link) that provided consumers with the item’s provenance and ownership history, seen, naturally, on the blockchain. Per Crunchbase data, only 1% of all VC funds were allocated to Black founders last year; out of the $21.5 billion raised by web3 startups globally last year, $60 million of that went to U.S.-based Black web3 founders, one of whom was Sandu. Spatial Labs, a web3 infrastructure and hardware company, announced today the closing of a $10 million seed round led by Blockchain Capital with participation from Marcy Venture Partners, the firm co-founded by Jay-Z. Iddris Sandu founded Spatial Labs in 2021, seeking to create products and shopping experiences using augmented reality.