Self-Custody Crypto Wallet Provider NGRAVE Raises $6M in Seed Round

Belgium-based cryptocurrency security firm NGRAVE recently announced that it has raised $6 million from several high-profile investors in its recently completed seed round fundraise.

In a press release shared with Coinfomania, NGRAVE revealed that the latest cash injection will be used to increase its global reach and expand its team.

Global Demand for “Coldest” Wallet Explodes

The company told Coinfomania that it is experiencing a massive surge in demand for its flagship product, ZERO, which is dubbed the “Coldest”.

Following a highly successful pre-order campaign for the full offline hardware crypto wallet earlier in 2020, where NGRAVE raised about $450,000 from 1,225 backers, global orders for the ZERO wallet has shot through the roof.

Recall that NGRAVE had shipped out the first batch of pre-orders earlier in November when the wallet debuted.

Currently, NGRAVE ZERO has been sold across 90 different countries, confirming global demand for more secure crypto storage solutions. At the time of writing, ZERO is completely sold out, with users on the product waitlist numbering into thousands.

NGRAVE’s seed round fundraise saw notable investment from renowned DeFi and Web3 investors, including Moonrock Capital, Spark Digital Capital, Woodstock Fund, Morningstar Ventures, DFG Group, Mapleblock Capital, and several other private crypto C-level angel investors as well as top crypto key opinion leaders.

Speaking on the fundraise, NGRAVE CEO, Ruben Merre said,

“Having experienced crypto hacks ourselves, we made it our mission to provide the crypto community with the security comfort it deserves. That’s why we innovated to the extreme on both security and user experience. This seed round represents the kickstart for our exponential growth stage and with the backing of several strategic investors, we are confident that 2022 will be a breakthrough year for NGRAVE.” 

The company noted that its ZERO wallet is a strong competitor in the market, considering that it has the highest rating in the Evaluation Assurance Level security evaluation, EAL7, allowing it to provide top-notch security without compromising the user experience. 

Himanshu Yadav, Founding Partner at Woodstock Fund said,

“When you bring the world’s best entrepreneurs, innovators, scientists, and business experts together to solve a crucial problem in the digital assets space, you create the most secure product for millions of users and thousands of enterprises. That is what NGRAVE is all about and why it is a no-brainer investment for us.”

Additionally, NGRAVE revealed that it will organise a new and more significant funding round in 2022 to keep pushing the boundaries of innovation and solidifying its global brand and presence.

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