Payment Platform Lava Announces $5.8M Seed Led by Lerer Hippeau

Gunderson Dettmer represented client Lava, a digital wallet startup, in its $5.8 million Seed financing led by Lerer Hippeau with participation from Harlem Capital, Streamlined Ventures and Westbound Equity Partners. Lava aims to take on payment giants by building a solution for the modern web where AI agents now handle transactions for their customers. The new capital will be used for hiring, building products and developing go-to-market strategies.

In the announcement of the transaction, Lava founder Mitchell Jones said, “Without Lava, agents can’t move smoothly through the internet because they constantly get blocked when it comes time to pay. We should be enabling agents to move, transact, and build without friction. We want to make sure that AI is something that can be used by every single person, even a kid from Dayton, like myself.”

The Gunderson deal team was led by Randall Clark and included Aliya Sanders, Valerie Wood, Handi Xu and Diana Aguilar.

Companies
Lava
Lerer Hippeau
Harlem Capital
Streamlined Ventures
Westbound Equity Partners