Spatial Labs, a web3 infrastructure firm focused on improving metaverse and commerce, raised $10 million in a seed funding round.

Blockchain Capital led the round, with existing investor Marcy Venture Partners, the venture firm co-founded by rapper Jay-Z, also participating, among others, according to a release from Spatial Labs. The round brings Spatial Labs' total funding to over $14 million, having raised a pre-seed round of $4 million last year.

The round is also notable as a rare slice of cash for a Black founder in the U.S., where only about 1% of venture capital funding went to startups with Black founders in 2022, according to Crunchbase data.

 Spatial Labs develops software and hardware tools that connect brands and consumers. The firm launched its first product called LNQ (pronounced "link") in May 2022. LNQ is a chip that uses Polygon's blockchain technology to authenticate products and create "digital twins," virtual copies of physical objects.

Sandu said around 10,000 LNQ IDs have been issued thus far in the product's testnet phase. The mainnet will go live in the coming months, he added.