Copyright infringement

Syndicate raises “informal” round from over 50 partners to bring DAOs to the masses –

Web3 startup SyndicateThe goal is to eliminate the DAO (decentralized independent organization). Its “Web3 Investment Clubs” product, launched by TechCrunch in January, allows users to form an investment group with their partners by merging their capital and voting on how to allocate funds.

Since the product was launched three months ago, more than 1,100 investment clubs have been formed on the Syndicate platform, the company says. In addition to sharing its development, Syndicate now announced has raised $ 6 million in strategic investments from more than 50 of its clients and partners.

Promotions include strategic investors such as Arta, Circle Ventures, OpenSea and Uniswap Labs’ new business arm, as well as institutional, non-profit, and web3 quality networks. The new round brings its total investment to more than $ 28 million, the company said, including $ 20 million it invested in Series A led by Andreessen Horowitz last August.

Although the cycle comes shortly after Series A, it is not the traditional cycle of Series B, by Syndicate founder Ian Lee told Coindeskreferring to them as “informal clients and strategic partners raising an issue.”