Startup Narval announced it has raised $4 million in a seed funding round led by BlockTower VC.
Other investors include: a16zFabric Ventures Bpifrance, Cherry Crypto, Motier Ventures and Frst Capital.
According to Narval CEO Gregory Jessner, the proceeds will be used to hire engineers and designers, as well as for marketing purposes.
The startup offers a tool for managing Web3 wallets. With it, Narval wants to provide organizations with a secure way to interact with cryptocurrencies.
“Our key feature is a granular mechanism that works with any storage model and allows firms to decide at a very granular level who can do what with digital assets,” Jessner said.
Recall that in 2022, investment in bitcoin startups outperformed the rest of the Web3 sector, according to a report by Trammell Venture Partners.
The volume of venture deals in the crypto industry fell by 71% in June, and in the first quarter, investors invested $2.6 billion in crypto startups.
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