Lumos Labs raises 1.1 mn

After raising over $1.1 million in a Seed round, Lumos Labs, formerly an innovation management firm with expertise in running over 45 technology-focused open innovation programmes, today announced the launch of a developer-centric Metaverse platform where developers can learn, earn, and explore developer-centric opportunities.

The Seed round was led by Global Web3 venture fund Delta Blockchain Fund and included funding from leading VCs such as Superblock, Next Web Capital, Arcanum Capital, AG Build, Paradigm Shift Capital, and numerous eminent angel investors from the Web3 ecosystem.

Lumos Labs, which has cultivated a strong community of 60K developers, will now aim to create a unified builder identity by consolidating Web3.0 opportunities in the experiential format of a metaverse platform, according to a press release.

With a global market value of $34 billion by 2026, the Web3 space is driving the next wave of innovation. The availability of skilled Web3 developers and the need for an organised, chain-agnostic platform to aggregate and allow developers to upskill are the two major roadblocks that the ecosystem faces in its growth trajectory.