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<p class="is-style-lead">Blackbird, a loyalty and membership platform built for restaurants, announced the close of a Series A financing round led by Andreessen Horowitz’s crypto arm, a16z, according to a thread posted on X.</p> 
<p>The funding round included participation from new investors Amex Ventures and QED Investors.</p> 
<h2 class="wp-block-heading" id="a-number-of-investors-now-involved">A number of investors now involved</h2> 
<p>New investors involved in this investment round join existing firms including Union Square Ventures, a venture capital firm based in New York City, Shine Capital, venture capital firm that partners with entrepreneurs, Variant, early-stage crypto venture capital firm and other seed investors.</p> 
<p>Additionally, investors from the restaurant industry helped raise funds for Blackbird, including Quality Branded, Rustic Canyon Family, Souvla, a group of fast-fine modern Greek restaurants, and Brooks Reitz, the Founder of Jack Rudy Cocktail Co.</p> 
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   <p lang="en" dir="ltr">Today we are excited to announce the close of a $24M Series A financing round, led by <a href="https://twitter.com/a16zcrypto?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@a16zcrypto</a>, with participation from new investors Amex Ventures and <a href="https://twitter.com/QEDInvestors?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@QEDInvestors</a>. We are incredibly proud to count them as partners on our journey to build the future of restaurant tech.(1/4)</p>— Blackbird (@blackbird_xyz) <a href="https://twitter.com/blackbird_xyz/status/1709562317615063465?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 4, 2023</a>
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<p>Together, this funding round becomes a part of Blackbird’s overarching mission to give restaurants loyalty and connectivity tools. Blackbird has since garnered attention from 80 leading restaurants, with 22 already gone live.</p> 
<p> You might also like: <a href="https://crypto.news/a16z-welcomes-applications-for-london-based-crypto-startup-school/"> a16z welcomes applications for London-based Crypto Startup School </a> </p>  
<h2 class="wp-block-heading" id="battling-the-market-downturn">Battling the market downturn&nbsp;</h2> 
<p>Despite the crypto market continuing to spiral in a downturn, a16z has participated in several funding rounds.&nbsp;</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="a16z on what good looks like at Series A" width="1020" height="574" src="https://www.youtube.com/embed/5UFfE_U6i4o?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>Among them were the startup Bastion, which concluded a funding round for&nbsp;<a href="https://crypto.news/a16z-leads-25m-round-for-bastion-to-bridge-corporates-to-web3/" target="_blank" rel="noreferrer noopener">$25 million</a>&nbsp;on Sept. 19 and a&nbsp;<a href="https://crypto.news/a16z-leads-43m-funding-round-for-gensyn-ai/" target="_blank" rel="noreferrer noopener">$43 million funding</a>&nbsp;round for Gensyn AI on June 12.&nbsp;&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/a16z-leads-25m-round-for-bastion-to-bridge-corporates-to-web3/"> a16z leads $25m round for Bastion to bridge corporates to web3 </a> </p>

Blackbird announces $24m Series A financing round

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