The Solana ecosystem multi-signature protocol Squads has completed a $10 million Series A funding round, led by Electric Capital.

ChainCatcher news, according to The Block, the Solana ecosystem multi-signature protocol Squads has completed a $10 million Series A funding round, led by Electric Capital, with participation from Coinbase Ventures, Placeholder VC, RockawayX, L1 Digital, and Mert Mumtaz, co-founder and CEO of Helius and founder of Odyssey Ventures. Previously, the company had raised $12.5 million in three funding rounds.

According to the Web3 asset data platform RootData, Squad is a multi-signature management tool based on Solana, designed to handle complex governance and fund management, with the mission of unlocking the full potential of self-custody, co-ownership, and coordination for teams emerging in Web3.

Since its launch in 2021, Squads has stated that it has helped protect over $10 billion in assets, a significant increase from $500 million in October last year.