Web3 startup co-founded by former a16z crypto execs raises $25 million: report

Bastion, a startup co-created by two former a16z crypto executives, has raised $25 million in a seed round, Bloomberg News reported.

a16z crypto led the round, which had additional participation from Laser Digital Ventures, Robot Ventures, Packy McCormick, Not Boring Capital and more, Bloomberg reported.

Bastion smooths the process for firms to adopt blockchain-based technology and onboard web3 users. The company’s first plan with the funding will be to hire regulatory and compliance executives, co-founder Nassim Eddequiouaq told Bloomberg.

Prior to joining a16z Crypto, Eddequiouaq and co-founder Riyaz Faizullabhoy also worked in Meta’s Security Infrastructure for Blockchain sector for two years, according to their LinkedIn profiles.

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