UK-based Pimlico has raised $4.2 million in a seed funding round led by a16z crypto, aiming to improve the Ethereum network by introducing versatile smart accounts through ERC-4337.
Pimlico, a UK-based web3 infrastructure firm, has successfully secured $4.2 million in seed funding, a substantial boost spearheaded by a16z crypto. The company has its sights set on leveraging this investment to scale its operations.
The introduction of smart accounts is Pimlico’s response to the limitations of Ethereum’s current structure, where each account is restricted to one private key. Pimlico CEO Kristoff Gazso emphasized that smart accounts are a game-changer, offering a plethora of customizable options.
This recent financial milestone follows Pimlico’s prior success in raising $1.6 million in a pre-seed funding round on September 24, which saw participation from 1confirmation, Safe, Consensys and over ten other contributors. (...)