Utila, which offers a platform for managing cryptocurrency assets for institutions has raised $11.5 million in its seed round.
NFX, Wing VC, Framework Ventures, Fasanara Digital Ventures, North Island Ventures, Republic Capital, Liquid2, Inspired Capital, Lyrik Ventures, DCG Expeditions, Launchpad Capital, Shima Capita, K5 Global, and Big Brain Holdings were the investors.
The amount will be used by the company to advance its development initiatives, commercial operations, and brand.
Enterprise-grade crypto operations platform Utila, led by CEO Bentzi Rabi, helps businesses of all sizes safely manage their digital assets. Enabled by MPC key management for security and a transaction policy engine for granular control, they provide an enterprise-grade wallet platform that is secure, non-custodial, and chain-agnostic.
Using its institutional MPC wallet, Web3 developers, trading companies, and institutional investors may easily and effectively manage cryptocurrency assets across several blockchains, wallets, and users on one platform.
Their secure multi-chain wallet infrastructure may also be used by developers to provide unique solutions through the use of an API.
Utila is fast expanding and has achieved over $3 billion in transaction volume in just a few months, thanks to its use by leading companies in the field such as Fasanara, Starkware, and Psalion.
