Dynamic Labsa start-up that develops web3 authentication solutions used by many major crypto playershas just completed a series A directed by Andreessen Horowitz.
This Wednesday, Dynamic Labs is delighted to have raised $13.5 million in a Series A financing round led by American VC Andreessen Horowitz aka a16z and including participation from Founders Fund, Castle Island Ventures and Breyer Capital.
The Palo Alto-based start-up, due to launch in 2021, aims to simplify access to web3 by eliminating the complexity of interactions with crypto wallets.
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Its authentication and authorization platform based on a multi-chain wallet has now won over ecosystem figures such as Starkware, Doodles and Animoca Brands. It is compatible with 6 blockchain networks, including Ethereum, Solana and Cosmos.
Dynamic has launched mobile integrated wallets with access keys, which allow users to create a new non-depository wallet simply by using FaceID. It’s smoother than the best Web2 experiences, and it’s the holy grail of usability we’ve been clamoring for for years,” commented a16z’s Arianna Simpson, in a blog post.
Dynamic Labs had previously completed a $7.5 million fundraising round already led by Andreessen Horowitz in the summer of 2022, according to data provided by Crunchbase.
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