Wilson Sonsini - ECP

insight detail

Wilson Sonsini Advises Spatial Labs on $10 Million Seed Financing

  • 01/30/23
  • Client Highlights
  • Blockchain and Cryptocurrency

On January 26, 2023, Spatial Labs, a web3 infrastructure and hardware company founded by Iddris Sandu, announced $10 million in seed funding led by Blockchain Capital with participation from Marcy Venture Partners, the firm co-founded by Jay-Z. Wilson Sonsini Goodrich & Rosati advised Spatial Labs on the transaction.

In 2022, Mr. Sandu launched Gen One Hardwear, a clothing line embedded with Spatial Labs’ microchip technology called LNQ that provides consumers with the item’s provenance and ownership history on the blockchain. VentureBeat writes that the new funding will be used to further scale the company’s blockchain-enabled tech stack in addition to expanding its footprint in consumer goods and exploring other industries including media and entertainment.

The Wilson Sonsini team that advised Spatial Labs on the transaction included Jennifer Knapp, Jonathan Chan, Adam Shevell, Aaron Hendelman, Peter Eng, Andrew Collins, Kristina Wang, Ajwang Rading, and Samuel Silverstein.

For more information, visit Spatial Labs for extensive media coverage.

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