Squads Labs Raises $10 Million in Series A Round, Launches Fuse Smart Wallet

Squads Labs, the team behind the Squads Solana-based smart accounts protocol, the Squads app, and the smart account-enabled wallet Fuse, announced it raised $10 million in its Series A funding round. Led by Electric Capital, the funds will be used to improve the functionality of already existing products and take Fuse to the market.
Squads Labs Raises $10 Million, Launches Fuse in Testflight

Smart account protocols are gaining more and more relevance as Web3 gets mainstream. Squads Labs, the company behind several smart accounts solutions, announced it raised $10 million in its series A funding round. Led by Electric Capital, and with the participation of Rockawayx, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, the raise will allow the company to further support the development of smart account tech and products.

Squads Labs is responsible for developing the Squads protocol, which features several smart contracts directed to simplify the management of accounts and ease the development of more intuitive apps and wallets. Also, Squads Labs built the Squads app, which leverages the Squads protocol, to offer a tool for institutions to run their on-chain operations with customizable security settings, including treasury management and other functions.