a16z and Founders Fund lead Dynamic Labs’ $13.5 million Series A round

Web3-platform for authentication and authorization Dynamic Labs closed its Series A funding round of $13.5 million. The round was led by a16z and Founders Fund, as reported by Fortune.

The funds were also provided by Castle Island Ventures, Breyer Capital, Nikhil Vishwanathan and Joseph Liu of Alchemy, and other investors, according to The Block.

The startup is developing technologies to streamline the onboarding process.

Dynamic Labs offers a configurable all-in-one service that can either tuck the crypto-wallet technology under the hood for less-experienced users, or put it at the center of attention for Web3 users.

The startup plans to roll out new tools allowing the integration of FaceID and TouchID into the wallet design.

Among the firm’s clients are NFT company Doodles and the blockchain analytics platform Flooz.

The proceeds will be used to recruit talent and for marketing.

On December 13, the startup also announced the official release of its SDK.

Earlier, former Revolut vice-president of growth Hannes Graah, ex-Coinbase and Spotify staff, with backing from Galaxy Digital will launch the Zeal crypto wallet in Q1 2024.

In November Paradigm backed the Web3 infrastructure startup Privy in an $18 million round.