Bastion, a US-based web3 technology startup, has raised $25m in a seed funding round led by a16z crypto.
The round was joined by Alchemy Ventures, Aptos Foundation, Isos7 Venture Fund, Laser Digital Ventures, Not Boring Capital, Robot Ventures, Sancus Ventures, Laser Digital Ventures and Not Boring Capital, plus NFT platform Autograph.
Several other prominent figures in the web3 and web2 space, including Ryan Wyatt, Roham Gharegozlou, Dan Guido, and others, also participated in the round as individual investors, the startup said.
With the seed funding, Bastion has launched its operations to aid companies in integrating web3 infrastructure into enterprise technologies via a white-label platform.
Bastion was co-founded by Riyaz Faizullabhoy and Nassim Eddequiouaq, former executives of a16z, a venture capital fund that is focused on investing in crypto and web3 companies.
It is engaged in offering solutions to businesses to develop products and experiences that fully realise the potential of web3 for their end users, Bastion explained.
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With Bastion’s routing technology, companies can now utilise the blockchain’s utility only when necessary, offering a workable solution for web3 implementation, it added.
Bastion co-founder Nassim Eddequiouaq said: “We founded Bastion to enable businesses to onboard their products and end-users into a web3 environment without the complicated, overwhelming experience we know today. Web3 technologies have tremendous promise, but until now have lacked the enterprise-level infrastructure necessary to support tangible web3 use cases.
“Additionally, the blockchain industry is at an inflexion point, ready to transition into a regulated and safe environment that allows brands and enterprises to thrive. We believe that by leveraging the ease and high-quality user interfaces already working in web2, we can create more immersive and engaging products for users without disrupting the user experience.”