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Set Labs has raised $16.0M across 2 funding rounds.
Key people at Set Labs.
Set Labs has raised $16.0M in total across 2 funding rounds.
Set Labs constructs crypto-financial platforms and primitives that enable the creation of structured products within decentralized finance. The company’s primary offering, Set Protocol, allows for the bundling of various crypto-assets, including ERC20 tokens, NFTs, and other on-chain securities, into diversified, single-token baskets. This technology provides developers and managers with the tools to build sophisticated asset management strategies, simplifying complex digital asset exposure for investors through automated, tokenized portfolios.
The company was established in 2017 by co-founders Felix Feng and Alex Soong. Their initial insight stemmed from observing the success of indexed and structured products in traditional finance, such as the S&P 500, and recognizing a similar need within the nascent cryptocurrency markets. They sought to apply the principle of abstracting and simplifying portfolio management to digital assets, enabling investors to access diversified crypto exposure through a single, easily tradable token.
Set Labs’ products primarily serve investors seeking streamlined crypto exposure, alongside managers and developers who leverage its architecture to create and maintain new structured financial products. The company envisions empowering innovators in the decentralized future, actively building towards a more open and accessible global financial system. Its long-term mission focuses on democratizing participation in the digital asset ecosystem through sophisticated yet user-friendly financial primitives.
Set Labs has raised $16.0M across 2 funding rounds. Most recently, it raised $14.0M Series A in May 2021.
Key people at Set Labs.
Set Labs refers to multiple entities, but the most prominent technology company matching the query is Set Labs (also known as TokenSets), a blockchain and fintech firm founded in 2017 and based in California, US. It develops crypto-financial primitives, specifically "Sets"—ERC20 tokens that bundle multiple cryptocurrencies, NFTs, or on-chain securities, enabling users to hold diversified baskets with automated rebalancing for a "set it and forget it" approach[2]. This product serves crypto investors, developers, and traders by simplifying portfolio management, reducing the need for manual rebalancing, and providing exposure to curated strategies in the decentralized finance (DeFi) space. Growth momentum includes a team of around 16-20 employees and a focus on Solidity smart contracts, positioning it in the expanding DeFi and cryptocurrency markets[2].
(Note: Other entities like SETLabs Research GmbH, a 2021-founded Austrian/German research lab focused on software-enabled systems for automotive, rail, robotics, and healthcare, also match "Set Labs" but emphasize applied research rather than commercial products[1][3]. A separate corrosion testing firm exists but is unrelated to tech innovation[4]. This overview prioritizes the blockchain company due to its direct tech product alignment.)
Set Labs emerged in 2017 amid the rise of decentralized finance and ERC20 tokens on Ethereum, founded by a team passionate about crypto-financial primitives to democratize advanced trading strategies[2]. The idea stemmed from the need for user-friendly tools in crypto: traditional portfolios required constant management, so they created Sets as bundled tokens with rebalancing, inspired by index funds but on-chain. Early traction came via the TokenSets platform (tokensets.com), attracting developers building custom baskets and users seeking passive crypto exposure, evolving from basic ERC20 bundles to support NFTs and securities[2]. Key pivots included enhancing smart contract protocols for security and scalability in Solidity.
Set Labs rides the DeFi and tokenization wave, capitalizing on Ethereum's ERC20 standard and the shift toward programmable money since 2017. Timing aligns with crypto's maturation—post-ICO boom, amid regulatory clarity pushes and layer-2 scaling, enabling efficient on-chain baskets amid market volatility[2]. Favorable forces include exploding NFT/DeFi TVL (total value locked), institutional crypto adoption, and demand for yield-generating primitives. It influences the ecosystem by lowering barriers for retail users, inspiring similar protocols, and expanding "crypto ETFs" beyond centralized exchanges, accelerating composability in Web3 finance[2].
Set Labs is poised to expand with modular blockchain trends, integrating into multi-chain ecosystems like Solana or layer-2s for faster, cheaper Sets, while riding tokenized real-world assets (RWAs) and AI-driven rebalancing. Regulatory tailwinds (e.g., clearer US crypto rules) could boost adoption, evolving its influence from niche DeFi tools to mainstream portfolio builders. Watch for partnerships with wallets/exchanges and NFT/security expansions—positioning it as a core primitive in the next finance era, building on its mission to redefine crypto accessibility[2].
Set Labs has raised $16.0M in total across 2 funding rounds.
Set Labs's investors include 1k(x), CoinFund, 01 Advisors, Abstract Ventures, Kevin Hartz, Accel, AngelPad, B Capital Group, Bessemer Venture Partners, Bling Capital, Brick & Mortar Ventures, Chemistry VC.
