Paradigm Takes Part in Funding Round of Web3 Infrastructure Startup Privy

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Privy, a startup dedicated to building blockchain tools, has completed a Series A fundraising round totaling $18 million, with Paradigm as the lead investor.

Previous investors Sequoia, Blue Yard, and Archetype also participated in the financing, along with several business angels. Matt Huang, co-founder and General Partner of Paradigm, has also joined the company’s board of directors.

The funding will be used by Privy to attract specialized talent and expand its library for developers.

“We offer wallet connectors and integrated non-custodial solutions with self-custody capabilities. These allow ‘any user’ to easily access the application, regardless of their previous experience with cryptocurrency,” the team explained.

The startup has already collaborated with several innovative projects including Friendtech, Blackbird, and Courtyard, among others.