Pimlico Secures $4.2 Million in Seed Funding
Pimlico, a web3 infrastructure company based in the UK, has raised $4.2 million in seed funding, with a16z crypto leading the investment. This significant boost will enable the company to expand its operations and achieve its goals.
Their primary objective is to enhance the Ethereum network by implementing smart accounts through ERC-4337, which allows for account abstraction. This approach addresses the limitations of Ethereum’s current structure, offering customizable options such as gas sponsorship, advanced account recovery methods, spending limits, and modern verification methods like FaceID or passkeys.
This funding round follows Pimlico’s previous success in raising $1.6 million in a pre-seed funding round. CEO Kristoff Gazso emphasizes that this capital raise comes at a pivotal point for Ethereum and aligns with their mission to make the platform more accessible.
Hot Take: Pimlico’s Vision for Ethereum
Pimlico’s focus on enhancing Ethereum’s functionality through smart accounts demonstrates their commitment to providing innovative solutions and infrastructure for the future of the platform.
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