Web3 and XMTP, A cryptographic communication protocol, have raised $20 million in series A funding, led by A16Z and joined by Coinbase Ventures

On September 1, Web3 and XMTP, A cryptographic communication protocol, announced the completion of $20 million round A financing, led by A16Z. Coinbase Ventures, Not Boring Capial, SK Ventures, Offline Ventures, StarkWare, Anthony Pompliano, Anthony Sassano (The Daily Gwei), Kain Warwick (Synthetix), Kayvon Beykpour (Twitter), Stani Kulechov (Aave), Robert Leshner (Compound Labs), Roham Gharegozlou (Dapper Labs), Ryan Sean Adams (Bankless), Ryan Selkis (Messari) and other funds and angel investors participated in investment. The money will be used to expand the XMTP team and help XMTP communicate between encrypted wallets through its separate protocols and decentralized networks.