### Despite the downturn in the cryptocurrency market, new companies continue to enter the crypto space and launch new products. One such company is Portal, a Web3 wallet infrastructure startup that just raised $5.3 million in a recent round of funding.

Portal's technology provides wallet infrastructure and a decentralized application (dApp) store to create Web3-enabled apps. The company's platform allows users to interact with decentralized applications seamlessly and securely, without the need for complicated seed phrases that can be difficult to remember.



<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Wallet infrastructure startup <a href="https://twitter.com/portal_hq?ref_src=twsrc%5Etfw">@portal_hq</a> has raised $5.3 million in a funding round that included <a href="https://twitter.com/slow?ref_src=twsrc%5Etfw">@slow</a> and <a href="https://twitter.com/HaunVentures?ref_src=twsrc%5Etfw">@HaunVentures</a>. <a href="https://twitter.com/BrandyBetz?ref_src=twsrc%5Etfw">@BrandyBetz</a> reports<a href="https://t.co/dMLXlk1d0w">https://t.co/dMLXlk1d0w</a></p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1630599723919843329?ref_src=twsrc%5Etfw">February 28, 2023</a></blockquote> 



The startup's unique approach to wallet infrastructure has attracted the attention of investors, who recognize the potential of Web3 technology. Despite the excitement surrounding Web3 technology, investors have been steering clear of crypto projects in recent months. Venture capital and other investments in the crypto industry have dropped by 91% this year. However, Portal's success in raising funds suggests that there is still interest in promising crypto startups that are leveraging Web3 technology.



Portal's technology is particularly noteworthy because it prioritizes security without sacrificing ease of use. Users can access their Web3 wallet and dApp store with a simple login, eliminating the need for complex seed phrases that can be lost or forgotten. This makes Web3 technology more accessible to a wider range of users, which could drive further adoption of the technology.



Portal's recent funding round is a testament to the potential of Web3 technology and the growing interest in crypto startups. The company's innovative approach to wallet infrastructure and dApp development has the potential to revolutionize the way we interact with decentralized applications. Despite the challenges facing the crypto industry, promising startups like Portal continue to attract investment and drive innovation in the space.



Despite the downturn in the cryptocurrency market, new companies continue to enter the crypto space and launch new products. One such company is Portal, a Web3 wallet infrastructure startup that just raised $5.3 million in a recent round of funding.

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Sat Mar 11 2023 Tech Startup Portal Secures $5.3M To Revolutionize Web3 Infrastructure

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Sat Mar 11 2023

Tech Startup Portal Secures $5.3M To Revolutionize Web3 Infrastructure