{"id":84678,"date":"2023-09-19T10:46:06","date_gmt":"2023-09-19T07:46:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84678"},"modified":"2025-09-12T18:49:01","modified_gmt":"2025-09-12T15:49:01","slug":"a16z-alumni-web3-startup-bastion-closes-25-million-seed-round","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/a16z-alumni-web3-startup-bastion-closes-25-million-seed-round\/","title":{"rendered":"A16z alumni Web3 startup Bastion closes $25 million seed round"},"content":{"rendered":"<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\">Web3<\/a>-based Bastion, founded by former leaders of a16z crypto, <a href=\"https:\/\/www.prnewswire.com\/news-releases\/former-andreessen-horowitz-executives-launch-bastion-announce-25m-in-seed-financing-301930764.html\">\u0437\u0430\u043a\u0440\u044b\u043b\u0430<\/a> a $25 million seed round of financing.<\/p>\n<p>Investors include a16z itself, Laser Digital Ventures, Robot Ventures, Packy McCormick, Not Boring Capital, and others.<\/p>\n<p>Behind the project are former head of information security at a16z crypto Nassim Eddekiuak and <span data-descr=\"Chief Technology Officer\" class=\"old_tooltip\">CTO<\/span> Riaz Faizullabhoi. They also spent several years at Meta.<\/p>\n<p>Bastion is intended to simplify the process by which companies deploy blockchain-based technologies and attract new users.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe see Bastion as the ideal home for consumer brands entering Web3, such as Nike and Starbucks, to create convenient and engaging experiences that resemble Web2,\u201d said Bastion co-founder Nassim Eddekiuak.<\/p>\n<\/blockquote>\n<p>The funds will be used to scale operations, hire new staff, and obtain additional licenses to further diversify services.<\/p>\n<p>Bastion&#8217;s \u201cintelligent routing\u201d system determines whether transactions are executed on-chain or off-chain, delivering scalability and efficiency for enterprise clients.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAutomatic off-chain routing of interactions makes more transactions free, instant and fully private, ultimately leveraging the best elements of Web2 and Web3 for maximum user convenience,\u201d said project representatives.<\/p>\n<\/blockquote>\n<p>Earlier, blockchain startup Layer N <a href=\"https:\/\/forklog.com\/en\/news\/peter-thiel-backed-layer-n-raises-5m-seed-round\">raised $5 million<\/a> in a seed round led by Peter Thiel&#8217;s Founders Fund and the decentralized investment group dao5.<\/p>\n<p>In the second quarter, Web3 startups <a href=\"https:\/\/forklog.com\/en\/news\/web3-investments-fall-76\">raised around $1.8 billion<\/a> in venture funding \u2014 a figure down 76% from the same period in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Web3 company Bastion, founded by former a16z crypto executives, closed a $25 million seed round.<\/p>\n","protected":false},"author":1,"featured_media":84679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1531,1223,1133],"class_list":["post-84678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-a16z-crypto","tag-startups","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84678"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84678\/revisions"}],"predecessor-version":[{"id":84680,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84678\/revisions\/84680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84679"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}