NGRAVE, a company that makes bitcoin hardware wallets, said today that it has raised $6 million in venture investment.
Several well-known DeFi and Web3 investors, including Woodstock Fund, Morningstar Ventures, DFG Group, Spark Digital Capital, Moonrock Capital, Mapleblock Capital, and other angel investors, participated in the investment round.
NGRAVE’s worldwide reach to be financed
The $6 million in investment will allow the firm to grow its personnel and expand its worldwide reach. The ZERO wallet, NGRAVE’s main product, has been sold out for months owing to strong demand, with thousands of people on the waiting list.
According to a press report, the money would allow the firm to establish centers throughout the world to satisfy rising demand. To far, the ZERO wallet has been offered in 90 countries, with ambitions to go even further, according to the business.
NGRAVE had a highly successful pre-order campaign on Indiegogo and Kickstarter in 2020, garnering $425,000 from over 1,200 supporters who have all got their ZERO wallets.
The business informed newsmen that ZERO’s thorough security certification makes it a formidable contender to the already-established Trezor and Ledger wallets. The wallet has been awarded the EAL7 certification, which is the highest ranking in the Examination Assurance Level security evaluation, indicating that it can supply its security features more reliably than lower-graded goods.
“Having experienced crypto hacks ourselves, we made it our mission to provide the crypto community the security comfort it deserves. That’s why we innovated to the extreme on both security and user experience,” the company’s co-founder and CEO Ruben Merre told CryptoSlate.
The seed financing, according to Merre, would commence NGRAVE’s exponential development stage, making 2022 a breakthrough year for the company.
This opinion appears to be shared by the company’s supporters as well. NGRAVE has the ability to tackle a critical challenge in the digital asset market and offer one of the most secure solutions to millions of consumers, according to Himanshu Yadav, a founding partner at Woodstock Fund.
