Binance Labs, the venture capital arm and accelerator of Binance, has announced a strategic investment in NGRAVE!
About The Strategic Investment
Binance Labs has made a strategic investment in NGRAVE, a hardware wallet manufacturer. NGRAVE is a blockchain and digital asset provider that specializes in user-friendly, maximum security services for crypto users. In addition to the investment, Binance Labs has announced that NGRAVE will lead the upcoming Series A round.
Based in Belgium, NGRAVE was founded in 2018 and has developed a 3-tier security package made from scratch. With the Connectionless touchscreen hardware wallet, LIQUID, a mobile app that connects users to the blockchain in real time, and GRAPHENE, which eliminates users’ keys without losing them, crypto investors can enjoy a service that’s as easy to use as key generation to backup.
Yi He, Co-Founder of Binance and Head of Binance Labs, commented: “Security remains one of the biggest scraps for crypto adoption. Self-custodial wallets are one of the most secure methods for storing and through our investment in digital assets NGRAVE, we are looking to continue backing innovative startups that enhance user security.”
Tyler Z., Investment Director at Binance Labs, said “Hardware wallets are one of the most secure solutions for self-custody and digital asset storage, especially during volatile and turbulent markets. Ngrave’s premium product suite offers smooth and intuitive user experience, coupled with structured security innovations. Binance Labs is excited to capitalize on the emerging hardware wallet sector and partner with NGRAVE to bring sophisticated wallet products to both retail and institutional users.”
Ruben Merre, Co-founder and CEO of NGRAVE: “We take a real end-to-end view on how users can protect their crypto. For example, when looking into existing key creation processes, we realized there were serious security gaps. So we reinvented the way keys are generated and also overcame the limitations of today’s widely used mnemonic wallets. Our goal has always been simple: we want to make the world of crypto a safer place for everyone. Our mission is to empower people to safeguard their wealth, so they can live the life they want. As the world of crypto continues to evolve, we are excited to build together with and alongside Binance Labs to give us all that peace of mind.”
About Binance Labs
Binance Labs, the venture capital arm and accelerator of Binance, continues to search for the next big Web3 innovation. Since 2018, Binance Labs has invested in more than 200 projects from 25 countries. In addition, Polygon has incubated more than 50 Web3-specific projects through the Binance Labs Incubation Program, including Perpetual Protocol and Dune Analytics. As of August 2022, Binance Labs is the largest crypto venture capitalist in the industry by Assets Under Management (AuM) of $7.5 billion with a Multiple Investment Capital (MOIC) of 21.0x.
NGRAVE is a digital asset security provider that provides user-friendly maximum security solutions for the use of blockchain and crypto. Its flagship product, the crypto hardware wallet “NGRAVE ZERO”, is the only financial product in the world with the highest security certificate: EAL7. NGRAVE partners with the world’s top echelon in nano and chip technology, cryptography and hardware security, and counts several blockchain pioneers among his advisors, such as Jean-Jacques Quisquater, the famous professor of cryptography and the second reference of the bitcoin paper.
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