Wallet operations infrastructure Liminal has raised $4.7 million in its seed funding round led by Elevation Capital. The round also saw participation from investors such as LD Capital, Woodstock, Nexus Ventures, and crypto ventures including CoinDCX, Hashed, Cadenza Ventures, Vauld, Better Capital, and Sparrow Capital. Angel investors such as Andreas Antonopoulos, Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, Ajeet Khurana, among others, were also present.
The funds will be used to invest in hiring and product development, Mahin Gupta, founder, Liminal, said. “With Liminal, we solve the problem of securing and scaling digital assets where users have to use different wallets and infrastructure for different protocols. Our three layers provide management, operational automation, and compliance for enterprises,” he added.
According to Vaas Bhaskar, principal, Elevation Capital, adoption of digital assets is going to be driven by multiple crypto businesses and institutions. “These businesses are demanding plug-and-play custody solutions that are built taking their needs into account, including security, regulatory readiness, and operational efficiency. We look forward to partnering with Liminal on this journey,” he said.
“With a team of veterans that have already made waves in the Web3.0 landscape in the past, Liminal is bringing security and comfort to individual and institutional self-custody with its digital assets custody solution. We look forward to supporting them in their journey to one of the important names in the security and custody sector,” Himanshu Yadav, founding partner, Woodstock, said.
Liminal claims to have processed transactions over $2.5 billion, and automated transactions worth $400 million in one year of operations. It also claims to have around $50 million in assets under protection. 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 securely scale their digital asset operations.