Quick take:
- Glider said it is also participating in A16z’s Crypto Startup Accelerator in San Francisco this Spring.
- The company is building a platform that helps users invest in crypto without having to deal with brokers or centralised exchanges.
- The New York-based Web3 startup plans to leverage AI to help users tweak their crypto investments to their desired specifications.
Glider has announced a $4 million funding round led by Andreessen Horowitz (A16z), with participation from Coinbase Ventures, Uniswap Ventures, and GSR. Based in New York, the Web3 startup said it will also be participating in A16z’s Crypto Startup Accelerator in San Francisco this Spring.
Glider plans to use the capital to expand its team and develop its marketing strategy. The company is building a platform that uses artificial intelligence to automate crypto trading, swaps and other activities.
According to the announcement on Wednesday, users can leverage the platform to invest in crypto without having to deal with brokers and centralised exchanges.
Glider also allows users to tweak their crypto investments to the desired strategies, including building a portfolio of coins in an ETF-like structure or holding trending tokens on a particular chain, co-founder Brian Huang told Fortune.
According to Huang, Glider plans to use AI to let users manage their crypto assets without constantly making trades themselves.
“Everyone should be able to tune their portfolio exactly how they want it, automate it and do exactly what you would like to do within your own risk profile and tolerance,” Glider co-founder John Johnson told Fortune.
Glider’s platform is still in the testing phase with plans to launch in the coming months. The company plans to generate revenue by charging users a management fee based on assets under management.
Unlike other digital investment platforms that help users manage their crypto assets, Glider does not plan to custody users’ assets, with the platform opting to use blockchain technology to allow users to control their assets at all times.
“It’s a lot like these traditional finance advisors, but we do it completely non-custodial,” Huang said.
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