In the midst of heightened regulatory scrutiny in the U.S. cryptocurrency sector, prominent U.S. venture capital firm Andreessen Horowitz (a16z) has expanded its horizons by establishing its inaugural international office in London recently. This move marks a significant shift for the firm, known for its substantial investments in the cryptocurrency space. As part of this expansion, a16z wasted no time in unveiling an investment in Pimlico, a UK-based web3 infrastructure company.
Pimlico, headquartered in London, has secured $4.2 million in seed funding, courtesy of a16z. This strategic investment stands as a noteworthy financial boost for Pimlico, allowing the company to bolster its operations.
Pimlico’s primary mission centers around the creation of infrastructure that empowers developers to craft more user-friendly decentralised applications, commonly referred to as dApps. The seed investment, arrived shortly after Pimlico’s founder and CEO, Kristof Gazso, completed the Crypto Startup School program facilitated by a16z.
This should position Pimlico to advance its efforts in revolutionising the web3 landscape, further enabling user-friendly and decentralised applications.
In addition to this recent financial milestone, Pimlico previously raised $1.6 million from 1confirmation, Safe, Consensys, and over ten other investors in a pre-seed funding round on September 24.
