Liminal raises $4.7 million in seed funding led by Elevation Capital

SINGAPORE (ANTARA/Business Wire) — Liminal, a wallet operating infrastructure that secures digital assets in a simple and efficient manner, has raised $4.7 million in a first-led funding round height capital. The round was also attended by leading investors such as LD Capital, Woodstock, Nexus Ventures and crypto ventures such as CoinDCX, Hashed, Cadenza Ventures, Vauld, Better Capital and Sparrow Capital. There are also marquee fishing investors like Andreas Antonopoulos, Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani, Ajeet Khurana and others.

Liminal is the first wallet architecture to provide MPC and MultiSig to secure digital assets across multiple blockchains. This plug-and-play platform provides unmatched replacement support, eliminating manual operations by up to 90% and saving hours on manual refills. Keeping digital assets safe is a key challenge for corporations and institutional investors, and custodians like Liminal will play a huge role in facilitating the mass adoption of digital assets and Web3.

The company was founded in 2021 by Mahin Gupta. As a serial entrepreneur, Gupta built India’s first blockchain company BuySellBitco.in. He previously co-founded ZebPay, one of the largest crypto exchanges in India. Through Liminal, he set out to simplify and automate wallet operations and digital asset storage for corporate and institutional investors.

After a year of operation, Liminal processed more than $2.5 billion worth of transactions, automated transactions worth $400 million, and has approximately $50 million worth of protected assets. At its core, Liminal offers asset security and easy transactions. Liminal’s automated wallet solution makes it easy for crypto-native companies, SMBs and Web3 startups to manage their workflows across multiple blockchain protocols, saving significant development costs. It offers services to clients such as exchanges, custodians, banks, trading desks, and hedge funds to help them grow their digital asset operations securely.

A key concern in the security of digital assets is keeping keys safe while remaining compliant with regulations. If these keys are misplaced or lost, it can mean a great loss to the owner, either an individual or a company. This is why storing digital assets is so valuable. Once investors have confidence in the security of their keys, it means more people will gain confidence in cryptocurrencies and related applications like Web3 trading, DeFi, etc. Liminal Key is guaranteed by one of the most trusted and respected global insurers, making it a sustainable company.

The company considers ZebPay, DIFX and Flitpay as customers and is currently focused on expanding into the APAC and MENA regions in order to strive for dominance in the field of automated wallet infrastructure operations. Liminal’s team has over ten years of experience operating cryptocurrency exchanges and understands the difficulties companies face when using a wallet infrastructure.

“We will use the funds to invest in recruitment and product development,” Gupta said. “With Liminal, we are solving a very real problem in securing and scaling digital assets, which requires users to use different wallets and infrastructure for different protocols. Our three tiers provide enterprise key management, operations automation and compliance,” he added. Gupta is mentored by prominent thought leader Andreas Antonopoulos, whose strategic advice helped shape Liminal’s business. “The Liminal team has an impressive track record and extensive hands-on experience in containment, key management and security. Above all, they care about doing things right,” said Antonopoulos.

Elevation Capital Chairman Vaas Bhaskar said: “The rapid adoption of digital assets is being driven by some new-age crypto companies and institutions. These organizations are increasingly demanding plug-and-play maintenance solutions designed with their unique needs in mind, including security, regulatory readiness and operational efficiency. We are very impressed with Mahin and his team’s customer obsession and knowledge of this area. We look forward to working with Liminal on this journey.”

“With a team of veterans who have historically worked in the Web3 landscape, Liminal brings security and convenience to self-sufficient individuals and institutions with its digital asset storage solutions. We’re excited to support them on their journey to becoming one of the best prominent names in security and protection,” said Woodstock’s founding partner Himanshu Yadav.

Balaji Srinivas adds, “As they say, ‘not your keys, not your crypto’. Liminal is emerging as a viable alternative for storing your crypto.”

About Liminal

Liminal is an enterprise-class platform that offers a robust infrastructure to secure digital assets. Liminal enables crypto-native companies to securely scale their digital asset operations via an automated, plug-and-play wallet infrastructure. Liminal’s first approach to security allows projects to define custom policies and assign users to roles based on their responsibilities. Liminal’s Operating Excellence Framework provides efficient fee management, guaranteed transaction confirmation, seamless onboarding and other wallet operations. Our unified user interface ensures the same wallet management experience across multiple blockchains.

About Elevation Capital

Elevation Capital is a leading venture capital firm providing startup and seed capital to startups in India. Elevation Capital has invested in India since 2002, raising nearly $2 billion in capital across more than 150 companies. The company announced its eighth capital pool of $670 million in April 2022. The company is led by co-managing directors Ravi Adusumalli and Mukul Arora and three managing directors Mridul Arora, Deepak Gaur and Mayank Khanduja. The firm has invested in more than 150 companies across Consumer Internet, SaaS, Fintech, Consumer Brand, Edtech, Healthtech and Web3/Crypto and has offices in Bengaluru, Gurgaon and Salt Lake City.

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Olivia Troisi

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Source: Liminal

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