Case Gets $1.5 Million Seed Funding, Looking Beyond Bitcoin Wallets

Bitcoin hardware wallet provider Case has secured $1.5 million in seed funding, led by FuturePerfect Ventures. Other investors include RRE Ventures, High Line Venture Partners and the Rochester Institute of Technology Fund.

Case unveiled its biometric wallet last year and expects the first 1,000 units to be shipped this summer. The wallet is secured with multisignature technology, using a 2-of-3-key scheme where all private keys are stored in separate locations. It is also biometrically secured, requiring a fingerprint swipe in order to sign transactions. According to its website, Case is "building the world's most secure wallet platform."

The device connects to the Bitcoin network through local mobile carriers.

CEO Melanie Shapiro indicated that applications beyond Bitcoin's currency are envisioned, namely the authentication of transactions based on the Blockchain 's emerging technology. She said in a statement, "Making highly secure signing and authentication available across a variety of applications is just the beginning."

The wallet costs $199, excluding shipping and handling, and processing fees (which can be avoided if paying with bitcoin).