Andreessen Horowitz’s (a16z) crypto division’s two former executives secured $25 million in seed funding for their new Web3 startup, Bastion.
On September 18, an enterprise-focused web3 orchestrator, Bastion, launched its product suite with the help of a compliant, white-label platform that enables businesses to seamlessly integrate web3 infrastructure into enterprise technologies.
Two former executives with a16z’s crypto division, including former chief technology officer Riyaz Faizullabhoy and former chief security officer Nassim Eddequiouaq, both left the firm in April and co-founded the Bastion.
The $25 million funding round was led by a16z Crypto. Other participants include Autograph, Laser Digital Ventures, Robot Ventures, Aptos Ventures, and Alchemy Ventures. This funding will be used to scale company operations, recruit top engineering talent, and secure additional licensing to further diversify its product offerings.
Bastion empowers businesses to create goods and experiences that help their end users fully utilize Web3 by enabling brands to implement new or expand existing infrastructure. Bastion will offer custody services, digital asset transactions, and wallets.
“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,” commented Nassim Eddequiouaq.
Riyaz Faizullabhoy, co-founder of Bastion, said, “Many of the products and services we use daily can be radically improved by blockchain technology, and we’re excited to be able to provide seamless web3 experience that is intuitive and ready for mass adoption.”
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