Liminal, a cross-blockchain wallet architecture with MPC and MultiSig, announced it has raised $4.7 million in its seed funding round led by Elevation Capital.
The round also saw participation from prominent investors like LD Capital, Woodstock, Nexus Ventures, and crypto ventures like CoinDCX, Hashed, Cadenza Ventures, Vauld, Better Capital, and Sparrow Capital. There are also marquee angel investors like Andreas Antonopoulos, Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, and Ajeet Khurana, amongst others.
Founded in 2021 by Mahin Gupta, a serial entrepreneur, Gupta built India’s first blockchain company BuySellBitco.in. Prior to this, he co-founded ZebPay, one of India’s largest crypto exchanges. Through Liminal, he has embarked on a journey to simplify and automate wallet operations, and self-custody of digital assets for businesses and institutional investors.
In its one year of operation, Liminal reports it has processed transactions over $2.5 billion, automated transactions worth $400 million, and has around $50 million in assets under protection.
At its core, Liminal provides asset security and ease of transacting. Liminal’s automated wallet solution makes it easier for crypto-native businesses, SMEs, and Web3 startups to manage their workflows across different blockchain protocols, saving them significant development cost overhead.
It provides services to clients such as exchanges, custodians, banks, trading desks, and hedge funds to help them scale their crypto-asset functions.
Already, Liminal counts ZebPay, DIFX, and Flitpay as clients, and is currently focused on expansion in the APAC and MENA region.
“…businesses are increasingly demanding plug-and-play custody solutions that are built taking their unique needs into account, including security, regulatory readiness, and operational efficiency. We have been very impressed with Mahin and his team’s customer obsession and knowledge of this space. We are thrilled to partner with Liminal on this journey.”
– Vaas Bhaskar, Principal at Elevation Capital
Source: https://www.cryptoninjas.net/2022/05/31/liminal-raises-4-7m-in-seed-round-to-grow-cross-chain-automated-wallet-infrastructure/