HypeLab Raises $4M for Personalized Advertising

HypeLab, a web-based advertising startup, raised $4 million in seed capital from the venture capital firms Shima Capital and Makers Fund.

HypeLab uses blockchain-stored data to personalize and disseminate advertisements.

The adtech company, which was co-founded by Ed Weng, a former Google product manager with expertise in digital advertising, aims to market its services to clients who are eager to interact with the growing number of consumers who are adopting blockchain-enabled products and services.

Ed Weng co-founded the enterprise.

When asked about the reasons for Shima Capital’s investment in HypeLab, General Partner Yida Gao highlighted the venture capital firm’s “excitement for web3 and confidence in adtech playing a critical role in the ecosystem’s future” as grounds for the investment.

Yida Gao was responding to a question about the motivations behind the acquisition.

“Ads monetization is a crucial element that will bring outside capital into the ecosystem and accelerate the adoption of new users in Web3,” said Joe Kim, CEO of HypeLab.

“These two things will accelerate the adoption of new users on Web3.” In addition to this, HypeLab states that it has supported over fifty different businesses in “acquiring new Web3 users.”

Additional capital injections occur when new investment in blockchain startup companies stagnates.

Compared to the previous month of June, July’s total funding of $818 million for blockchain firms represented a decrease of approximately 18% in dollars.