Tuesday, July 5, 2022
HomeInsightFunding Alert Liminal raises $4.7 mn funding in seed round led by Elevation...

[Funding alert] Liminal raises $4.7 mn funding in seed round led by Elevation Capital

[Funding alert] Liminal raises $4.7 mn funding in seed round led by Elevation Capital
Liminal

Liminal, a Digital asset management platform has raised $4.7 million in its seed funding round from Elevation Capital and with participation from prominent investors such as crypto fund LD Capital, Woodstock and Nexus Ventures.

Cryptocurrency ventures like Coindex, Vauld, Better Capital, Sparrow Capital, Hashed, Cadenza Ventures and other angel investors including Andreas Antonopoulos ( UK based bitcoin advocate and tech entrepreneur); Balaji Srinivasan( former chief technology officer of Coinbase) ; Sandeep Nailwal and Jaynti Kanani ( Cofounders- Polygon Technologies); Ajeet Khurana ( founder, Reflexical) and among others.

The firm plans to use the funds to hire more people and for product development.

Singapore-based Liminal was founded in 2021 by Mahin Gupta, It claims to be the first wallet architecture to offer secure multiparty computation (MPC) and multi-signature wallets, in which two or more private wallets are used to sign and send transactions to secure digital assets in separate blockchains.

Mahin is also the Co-founder of Zeb Pay, a well-known Indian crypto wallet.

According to the statement, Liminal provides services such as exchanges, custodians, banks, trading desks and hedge funds to help clients scale their digital asset operations securely.

According to the company, the company has eliminated up to 90% of manual operations and processed more than $2.5 billion in transactions, automated transactions worth $400 million in one year of operation and approximately $50 in protected assets.

“With Liminal, we solve the very real problem of securing and scaling digital assets where users have to use different wallets and infrastructure for different protocols”, Said, Mahin Gupta, founder of Liminal.

“Secure custody of digital assets is a major challenge facing businesses and institutional investors, and custodians such as Liminal will play a big role in facilitating mass adoption of digital assets and Web3,” the company said.

Its clients including ZebPay, DIFX, and Flitpay, and others. Currently, Liminal is focused on expanding into the Asia Pacific and Middle Eastern markets.

“Rapid adoption of digital assets is going to be driven by multiple new age crypto businesses and institutions…These businesses are increasingly demanding plug-and play custody solutions that are built taking their unique needs into account,” said, Vaas Bhaskar, principal at Elevation Capital.

About Liminal

Liminal makes it possible for everyone to store and manage their digital assets in an easy and secure manner. Digital Asset Self-Custody, Simplified.

Liminal is an enterprise-grade platform that offers a robust infrastructure for managing digital assets. Liminal enables crypto-native companies to scale digital assets securely with operations through hardware devices backed, plug and play wallet architecture.

Liminal’s security-first approach allows projects to define customized policies and assign roles to users based on their responsibilities. The zero-key leakage tolerance approach helps companies eliminate the risks associated with digital asset transfers, such as cyber-attacks, internal collusion, and human error.

Liminal’s operations excellence framework provides efficient fees management, transaction confirmation guarantees, seamless onboarding, and other wallet operations.

At Liminal, Their mission is to simplify self-custody. Their team of 25+ experts across the globe makes it extremely easy and secure for individuals and businesses to manage their digital assets without giving up control and ownership.

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