OnchainLabs, a Web3 technology company based in Switzerland, has successfully closed its seed round, securing CHF 5 million from three prominent German investors. In early July 2024, OnchainLabs announced the launch of its non-custodial Onchain Gateway Wallet (OG Wallet).
The project is backed by successful serial entrepreneurs Jochen Roeser, founder of Adesso, and Prof. Dr. Volker Gruhn. Another prominent investor is German professional footballer Ilkay Gündogan. The project is also receiving ongoing support from the original investors: Thomas Staubli and Patrick Lütjens. The CHF 5 million seed round marks a significant milestone in OnchainLabs' journey. It clearly demonstrates the strong support of current investors and sets the stage for future growth and innovation.
OnchainLabs makes Web3 mainstream
OnchainLabs' vision is to seamlessly connect products with the digital world. It enables continuous interaction between customer, brand and product. To achieve this, OnchainLabs develops a scalable Web3 Software-as-a-Service (SaaS) solution that makes Web3 easily accessible to brands and businesses. It integrates with existing systems and enhances user engagement through innovative blockchain-oriented solutions.
The recently announced OG Wallet is different from other solutions. It is specifically designed for blockchain newcomers, making digital asset management easy. The OG Wallet also includes pay-in and pay-out capabilities using traditional payment methods. A first implementation was recently completed with the Swiss company CrowdTransfer. CrowdTransfer offers football fans the opportunity to actively participate in the financing and design of their favorite clubs and even player transfers.
Backed by German IT leaders and a renowned NFT collection
The investment, led by German serial entrepreneur Jochen Roeser and his investment firm MediaGate, brings not only financial backing but also strategic advantages. Mr. Roeser, who has extensive connections in various German business sectors, also brings along MediaGate's existing shareholders. Prof. Dr. Volker Gruhn, founder of Adesso, a large German IT company, and Ilkay Gündogan, captain of the German national soccer team and professional football player at FC Barcelona.
"We are incredibly excited about this new chapter for OnchainLabs. The strategic merger with MediaGate and the support from our investors position us perfectly to lead the way in Web3 innovation”, - Florian Ehrbar, OnchainLabs CEO
OnchainLabs will acquire all assets and employees of MediaGate. This includes a large NFT collection from virtual soccer and cryptocurrency-based gaming site Sorare. The collection is worth seven figures and generates regular revenue through Sorare's play-to-earn program. Richard Roeser will continue to manage the collection.
A new player joins the Crypto Valley
In addition, Tobias Schneider, a serial entrepreneur and former Olympic athlete, will join OnchainLabs as part of the founding team and assume the role of Chief Operating Officer. His experience and expertise will significantly enhance OnchainLabs' business development efforts as the company positions itself for significant growth. Co-founders Naemi Hügli, Tobias Schneider and Florian Ehrbar are proud of the investor's strong vote of confidence and underline the team's commitment to becoming a major player in the blockchain industry.
With strong support from the current round of investors, the company is now focused on growing the team and improving product delivery. OnchainLabs also announced that it is moving to Crypto Valley in Zug. To the heart of the blockchain hub in Switzerland. OnchainLabs remains committed to making Web3 more accessible to brands and enterprises. Their vision is to completely redefine user engagement and retention.
