Braavos Wallet Raises $10 Million in Funding Round Led by Pantera Capital

The Braavos startup, behind the Braavos wallet, raised $10 million in a funding round led by Pantera Capital. According to CoinDesk.

Among other investors: Road Capital, BH Digital, DCVC, Crypto.com, Matrixport, and Starkware.

Based on layer-2 StarkNet for Ethereum scaling, the latest Israeli startup has built its own comprehensive cryptocurrency solution.

The wallet team aims to offer users the ability to self-custody their digital assets, greatly simplifying handling of seed phrases and private keys.

The app is available in both browser and mobile versions for iOS and Android. Braavos combines traditional asset storage and transfer capabilities with access to dapps. The wallet includes an educational feature Transaction Explainer, which helps novice traders “understand and review transactions,” the team noted.

“Cryptocurrencies today remain too technical and complex for many users. They require dealing with seed phrases and security keys with low tolerance for errors, and learning nontrivial DeFi protocols,” said Motti Lavi, co-founder and CEO of Braavos.

According to him, the developers see their mission as “eliminating these barriers for users” while preserving the advantages of “decentralization and self-custody”.

The project’s roadmap for the near term includes launching a “forgot password” option, enabling multi-factor authentication, and integrating additional DeFi capabilities for yield farming directly in the app.

Earlier in July, the StarkNet-based decentralized oracle network Empiric Network raised $7 million in a seed round.

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