Belgian ‘coldest wallet’ that never connects to Internet engraves $6 million seed funding

The beer capital of the world is now on a crypto frenzy. Belgian-based ‘coldest’ crypto hardware wallet provider, NGRAVE has closed a seed funding round of $6 million. The round saw the participation of DeFi and Web3 investors, including Woodstock Fund, Morningstar Ventures, DFG Group, Spark Digital Capital, Moonrock Capital, Mapleblock Capital and multiple private crypto C-level angel investors as well as top crypto key opinion leaders.

Founded in 2018 by Edouard Vanham, Ruben Merre, Xavier Hendrickx, the startup is a digital asset security provider that offers user-friendly maximum security solutions for blockchain and crypto use cases. Truly disrupting security and user experience where crypto storage solutions are concerned, its flagship product - crypto hardware wallet "NGRAVE ZERO" - is the only financial product in the world that features the highest security certification: EAL7.

The seed funding round will enable the startup to expand the team and increase its global reach. NGRAVE’s ‘Coldest Wallet’ has been sold across 90 countries, confirming global demand for more secure crypto storage solutions. The platform is also planning to raise new funding in 2022.

NGRAVE CEO and Co-founder Ruben Merre said: "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."

Woodstock Fund Founding Partner Himanshu Yadav added: "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. NGRAVE has been a no-brainer investment for us."

Earlier in 2020, the startup launched the most successful crypto wallet pre-order campaign on IndieGogo and Kickstarter ever, allowing the company to raise $450,000 from 1,225 backers, who meanwhile have all received their orders.