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Quick take:
The Seed round was closed at a valuation of $50 million.
Founded in 2021, Keplr claims to be the largest Cosmos chain-based wallet with over 2 million users.
The company has since expanded its service to include EVM-compatible networks.
Keplr, a self-custodial crypto wallet service provider built on the Cosmos chain has raised $5 million in a seed round led by 1Confirmation. The fundraising also attracted participation from Coinbase Ventures, HashKey Capital, Chorus One Ventures, Skip Protocol, Binary Builders and others.
The fundraising was closed at a valuation of $50 million, according to a report by The Block. Keplr was founded in 2021 and has since grown to enable support for Ethereum Virtual Machine-compatible networks.
The company also claims to be the largest Cosmos chain-based wallet with over 2 million users and last October also integrated with Starknet expanding beyond EVM-compatible ecosystems.
Commenting on his company’s leading role in the fundraising, 1confirmation’s general partner Tomaino said in a statement: “We see a future where the most useful crypto apps want their own chains and the products Keplr is building are essential to this vision.”
The company claims to have facilitated the self-custody of at least more than $5 billion, with co-founder Josh Lee also telling The Block that Keplr has no plans to launch a token. “There is a bigger picture that needs to be played out in regards to connecting ownership, verifiability and usability for Keplr first before we start considering tokens,” he said.
The company plans to use the fresh capital to expand its team, especially in the engineering and product development departments, as it improves user experience while expanding support for both EVM and non-EVM chains.
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