The first fundraiser for the start-up studio Pyratzlabs, which in parallel announces the opening of a dedicated web 3 space of 1,000 square meters in Levallois-Perret.
The dedicated start-up studio for web3 Pyratzlabs concludes its first fundraising of €3 million and announces on Tuesday 10 May the opening of a physical space dedicated to web3 in Levallois-Perret, at 7 rue Pablo Neruda. This funding round took place in the first quarter of 2022, and was matched by three categories ofInvestor. “We looked for gaming heavyweights like Sébastien Borget from The Sandbox, and then more corporate profiles to create entrepreneurial projects and do mergers and acquisitions,” explains Bilal Alami, co-founder of Pyratzlabs. The last category is family office It already has stock or tokens for web3 companies.
Creating a physical space dedicated to Web 3 and reinventing the startup studio paradigm, these are the goals of Pyratzlabs and its 1,000 square meter space. The co-founder continues, “The idea is to serve as the CEO of the technology and finance department, whereas in the classic incubation structure, presentation was often limited to simple mentoring.”
Fifteen encounters is what Beratzlaps requires of founders interested in the incubation project. Meetings during which the start-up studio and its prospects discuss the concept, development prospects, financial possibilities, getting acquainted with each other: “We want to work with founders, and not with companies,” Bilal Alami justifies. Before continuing: “When we support a fund, we want to make the first investment, put the first card and support projects so that they can best benefit from it.” Concretely, if the fifteen or so meetings lead to a partnership, Pyratzlabs becomes the owner of 7% of the project, in return pumping out an envelope of €200,000. In the six months following the agreement, the start-up studio supports the project in its development and management, in particular for the organization of fundraising.
Priority for Games, DeFi and Markets
“We can only work on eight projects at the same time, so we have very specific criteria in mind,” the co-founder acknowledges. The goal is to create a complete Web 3 system and, through that, to foster synergies between different projects. Thus, Pyratzlabs prioritizes the gaming segments, DeFi and markets Before considering expanding its offer to include insurance services, for example.
“Music guru. Incurable web practitioner. Thinker. Lifelong zombie junkie. Tv buff. Typical organizer. Evil beer scholar.”