On October 16, 2023, investment firm Multicoin Capital divulged its latest funding round for Squads Labs, amounting to $5.7 million. This investment surge elevates the total funding for Squads to $12.5 million, marking a significant financial milestone for the core contributor to the Squads Protocol, a multisig (multi-signature) solution on the Solana blockchain. Multicoin’s initial investment in Squads dates back to late 2021, showcasing a growing rapport between the two entities.
Squads Labs is at the forefront of developing robust smart contract wallet infrastructure alongside a variety of products aimed at simplifying self-custody at a larger scale. Key products include “Squads,” a multisig standard for Solana assisting teams and developers in managing treasuries, programs, tokens, and validators, and “Fuse,” a wallet for secure individual interactions with Solana dapps and protocols from a multisig’s safety. Through their…
