Dynamic Labs Secures $13.5 Million in Series A Funding

vctavern
VC Tavern November 8, 2024

Dynamic Labs has revealed the successful acquisition of $13.5 million in Series A funding, led by a16z crypto.

The web3 company has announced that the funds will be directed towards the creation of an innovative suite of non-custodial wallet tools. These tools are designed to simplify the complexities of cryptocurrency for developers working on wallet applications.

“We are thrilled to unveil our $13.5 million Series A round, with a16z crypto taking the lead, along with Founders Fund, Castle Island Ventures, Breyer Capital, Nikil Viswanathan, Joe Lau from Alchemy, and other investors,” Dynamic Labs announced in a press release. “This investment will expedite our efforts to support these talented developers.”

Dynamic Labs intends to roll out new non-custodial wallet tools, allowing developers to seamlessly integrate FaceID and TouchID into their web3 wallet interfaces. This initiative aims to enhance the user experience by streamlining the wallet login process, especially for mobile users.

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