Bitcoin hardware wallet case has secured $2.25 million in funding in a round led by FuturePerfect Ventures.
Combined with an earlier round in June, the startup has raised $3.75 million to date.
Case unveiled its biometric wallet last year and expects the first 1,000 units to be shipped in the coming weeks. 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.
Earlier this week, we discussed the apparent dwindling of venture investment in the sector, taking into account August's poor numbers. The past two days have outpaced August and July combined. However, much of the investment has begun to shift toward Blockchain technology, and away from bitcoin as currency.
Startups previously engaged in the latter camp, such as Chain, have gradually moved to the former. Case, which one would have expected to fall into the bitcoin-as-a-currency category, also appears to be following this path.
CEO Melanie Shapiro previously hinted that applications beyond Bitcoin’s currency are envisioned, namely the authentication of transactions based on the blockchain’s emerging technology. Indeed, Case also revealed that it has partnered with Digital Asset Holdings (DAH), the blockchain startup led by JP Morgan legend Blythe Masters who aims to change the way financial assets are exchanged. The secure management of private keys would be Case's role in the joint venture.
