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Multichain ID wallet Safle raises $4M in private funding round | Invezz

invezz.com 09 December 2021 11:00, UTC
Reading time: ~2 m

Safle, a next-gen blockchain infrastructure provider and multichain identity wallet has raised over $4 million in a round led by GSR, MapleBlock, GSR, Ghaf Capital Partners, and Sanctum with involvement from Momentum6, NFT Tech, Sanctum Ventures, AU21 Capital, New Tribe Capital and Tony G, Lithuanian poker player and businessman, Invezz learned from a press release.

Round follows $900K seed funding raise

The round comes in the wake of a $900,000 seed funding raise in October, which Woodstock Fund, Polygon’s (MATIC/USD) founders, and Draper Dragon Fund led and backed. The non-custodial wallet is also a self-sovereign identity protocol and developer tooling infrastructure for the blockchain ecosystem, whose vision is to create seamless experiences for developers and users within the decentralized ecosystem.

Safle launches web and smartphone app and browser extension

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Safle is working on touchpoints including a smartphone app, a web app, and a browser extension that will allow ecosystem users and developers to interact without friction. Vijay Garg of Mapleblock commented:

The Safle team has a strong focus on improving the DeFi user experience through their wallet. Their UI/UX felt much superior to many of the existing solutions in the space. We also strongly believe in their vision to create an on-chain identity that spans across multiple chains while retaining full custody of their assets at all times.

Project to launch SAFLE token

The project is also launching the native $SAFLE token, designed to serve as a multipurpose governance token for the entire Safle ecosystem. The Safle community governs the network through self-sustaining $SAFLE tokenomics. Holders of $SAFLE will be able to make changes to the features and functions of the wallet and its tooling services.

Dunstan Teo of Sanctum Ventures added:

NFTs and GameFi are currently the two hottest things in blockchain. We are vested and actively adding projects that facilitate innovation, sustainability and simplified access to the ecosystem. Safle’s vision and tech. solutions can prove to be game changing in this segment. We are excited to be part of Safle’s journey.

Recently, Safle announced its highly anticipated IDO for the $SAFLE token on Polkastarter.

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