How Much Money Will Ngrave Be Able to Raise in the Funding Round? Ngrave, a digital wallet is looking to raise $15 million in Series A funding according.
The report says that the Series A investment process will provide the startup with an initial investment of $60 million and Binance Labs is currently leading as a person with direct knowledge of the business. Binance Labs, the venture capital arm of the leading cryptocurrency exchange, Binance announced in November that it had formed a partnership with Ngrave. Binance Labs revealed that it is leading a Series A funding round, the value of which was not disclosed at the time. Little is known about the Series A investment process as Ngrave has not revealed details about the pre-funding review process.
Ngrave specializes in the protection of digital assets and offers its customers access to the most advanced key generation methods by allowing them to generate various encryption keys. An April survey by Ngrave showed that more than half of crypto users keep their support in a paper wallet to store their keys. The study added that almost one in two entrepreneurs joined the crypto industry after 2019, with an expected increase in 2021.
Seed money and blockchain companies
RakkaR Digital, a cryptocurrency operator, has announced that it has raised $10 million in total funding supported by SCB 10X despite the decline in the crypto market.
Southeast Asia, RakkaR’s primary region, is a region where SCB 10X is optimistic about cryptocurrency adoption. RakkaR, which has 20 employees in offices in Thailand and Singapore, plans to hire another 50 people next year in the new capital.
In addition, Golden, a Web3.0-focused company, said it raised $40 million in Series B funding led by Andreessen Horowitz (a16z). Protocol Labs, OpenSea Ventures, DCVC, MVP Ventures, Vela Partners and Socii Capital are among the other investors involved in the Series B, according to Golden.