ASTRALABS Raises $100,000 in First 6 Hours

AUSTIN, Texas, /PRNewswire/ -- Newchip Inc. has rebranded to ASTRALABS INC. The company experienced exponential growth as their revenues climbed a staggering 357% from 2019 to 2020. As a result, the strategic decision was made to divide its company into a new parent structure with its product lines as independent wholly owned subsidiaries as part of the new venture studio model.

ASTRALABS officially launched a public offering campaign on Wefunder on Jan. 25, 2021, and surpassed $100,000 within the first six hours. The company is raising at a $69.3 million pre-money valuation and has previously raised $4.5 million from investors and executives from Goldman Sachs, Credit Suisse, YGC, JV, Sputnik, YC & Polymath.

ASTRALABS is a team and network of hundreds of top startup founders, expert mentors, and investors around the globe focused on rebuilding the world post-COVID-19. This new structure is a strategic move that will allow its subsidiaries to focus and grow independently while also contributing to the overall vision of the parent company.

ATRALABS is currently made up of three wholly-owned subsidiaries: Newchip - the flagship, global accelerator; Sofos.ai - an investor and sales lead generation platform; and Journey Venture Partners an investment management company. The creation of the parent company, ASTRALABS, will allow the individual business units to have a greater impact on the global startup ecosystem by providing resources at the different pain points in the founder's funding and growth journey. This move allows for further expansion such as the acquisition of companies that have previously completed the Newchip Accelerator or other companies that might align with the ASTRALABS' mission.

Founder and CEO of ASTRALABS, Andrew Ryan, speaks of the opportunity at hand for investors, I believe this model is revolutionary. It's unlike anything that's been available to everyday investors. In the past year we have already secured over $100 million in future equity warrants, says Ryan.

Investors can learn more about the investment opportunity and the current offering at the Wefunder on ASTRALABS' campaign page.

About ASTRALABS

ASTRALABS is a team and network of over 1,200 top startup founders, expert mentors, and investors focused on rebuilding the world post-COVID-19. As a venture studio, the company's aim is to build a new global startup ecosystem and product portfolio focused on educating and equipping the next generation of entrepreneurs with what they need to succeed. With over 750 graduated startups, ASTRALABS possesses over $100 million in equity warrants in combined estimated market size of over $5 billion. ASTRALABS in the parent company of the Newchip Accelerator, Journey Venture Partners, and Sofos.ai.