Crypto Startup Led by Former Andreessen Executives Raises Cash
- Bastion raises $25 million in funding round led by a16z crypto
- Startup to provide custody and other services on one platform
While the crypto slump has hobbled demand for web3, Bastion’s co-founders still see a strong appetite from companies across many sectors to enter the blockchain.
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An Andreessen Horowitz-backed startup bent on bringing blockchain technology to the corporate world has managed to raise new funds, despite the bear market in digital assets.
Bastion, co-founded by two former executives with Andreessen’s crypto division, came out of stealth mode Monday with a seeded funding round worth $25 million led by a16z crypto. Investors also include Nomura Group’s Laser Digital Ventures, Robot Ventures and crypto influencer Packy McCormick’s Not Boring Capital, among others.