ChainCatcher reported that Solana Ecosystem Multi-Signature Protocol Squads has completed a $10 million Series A financing round led by Electric Capital, with participation from Coinbase Ventures, Placeholder VC, RockawayX, L1 Digital, and Helius co-founder and CEO and Odyssey Ventures founder Mert Mumtaz. Previously, the company had raised $12.5 million in three rounds of financing.
It is reported that Squads is a multi-signature protocol based on Solana that helps enterprises manage on-chain assets such as funds, tokens, and management keys through multi-signature security. Since its launch in 2021, Squads said it has helped protect more than $10 billion in assets, a significant increase from $500 million in October last year.
