Stelo Labs, a San Francisco, CA-based startup that is building a Chrome extension to protect a wallet from scams and phishing and securely navigate web3, raised $6m in funding.
The round was led by Andreessen Horowitz via a16z crypto with participation from First Round Capital, Opensea Ventures, Chainforest, BoxGroup, Pear, Mischief, Homebrew, Louis Beryl, Sabrina Hahn, Dylan Field, Dan Romero, Gokul Rajaram, Lenny Rachitsky, and other angels.
The company intends to use the funds to expand operations and its development efforts.
Stelo protects wallets from scams and phishing so they can discover web3 in security. The company aims to works alongside every wallet. and never accesses a seed phrase or private key.
They are announcing three new products, including:
- Stelo v2, which has redesigned the Stelo extension from scratch to make it simpler, faster, and easier to use.
- Stelo for developers, a developer API to empower every dApp and wallet to use the Stelo Transaction Engine that powers the Stelo extension.
- Approvals.xyz, a token approvals experience to understand a wallet health and keep it safe.