Liminal Raises $4.7 Million in Funding from Elevation Capital, CoinDCX, Sandeep Nailwal, and Others
Liminal has raised $4.7 million in its seed investment round, boasting a first-of-its-kind wallet design concentrating on the safe custody of digital assets.
The fundraising round was led by Elevation Capital, an Indian venture capital firm that invests in early-stage firms.
Angel investors Andreas Antonopoulos, Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, and Ajeet Khurana joined the investment round, as did prominent Indian exchange CoinDCX. LD Capital, Woodstock, Nexus Ventures, Hashed, Cadenza Ventures, Vauld, Better Capital, and Sparrow Capital were among the other investors.
Mahin Gupta, one of the three co-founders of Zeb Pay, a leading Indian crypto exchange, established Liminal.
Liminal promises to be the first wallet design to secure digital assets across several blockchains using secure multiparty computation, or MPC, and multisignature wallets, which need two or more private keys to sign for and submit a transaction.
Liminal claims to have reduced manual operations by 90% and to have processed over $2.5 billion in transactions, $400 million in automated transactions, and $50 million in assets under protection in its first year of operation.
"A number of new-age crypto enterprises and institutions will accelerate rapid adoption of digital assets," says the report "Elevation Capital principal Vaas Bhaskar stated. "We were blown away by Mahin and his team's dedication to their customers and in-depth understanding of the industry.
Balaji Srinivasan, another investor, added, "'Not your keys, not your crypto,' as they say. Liminal is gaining traction as a potential cryptocurrency storage option."
Liminal provides services to exchanges, custodians, banks, trading desks, and hedge funds, addressing their primary concern of retaining crucial security while following to regulatory requirements.
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