Web3 wallet infrastructure provider Portal raised $5.3 million in an investment round it participated in.
The portal managed to raise $5.3 million with the investment of Kaite Haun’s companies in a fundraising tour. The company made a press release on the subject.
Web3 Wallet Infrastructure Provider Portal Raised $5.3M
Portal, a Web3 wallet infrastructure startup, has raised $5.3 million in a funding round that includes venture capital firm Haun Ventures, founded by veteran investor Kaite Haun, according to a press release by the company.
The round of funding comes during a particularly harsh crypto winter in January, which saw a 91 percent year-over-year decline in venture capital and other investments in the industry. Infrastructure projects stood out as one of the strongest sectors throughout the month.
San Francisco-based Portal offers wallet infrastructure and a decentralized application (dApp) store that enables projects to become Web3-enabled applications. Portal’s built-in wallet uses multilateral computation (MPC), a type of encryption that eliminates the need for complex seed expressions without sacrificing security.
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