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Delegate - Seed
Overview
Funding Date
February 1, 2024
Financing amount
$9M
Valuation
--
Category
Subcategory
About Delegate - Seed
Delegate Labs, the team behind security protocol Delegate, today announced the closing of a $9 million seed round with backers including Electric Capital, Arca, Variant, and Arrington Capital.
The funds will partially back the team's latest protocol, Clusters, also announced today. Clusters is a cross-chain, multi-wallet name service aimed at tackling crypto’s fragmentation issues that arise when users want to transact between wallets on various sprawling networks.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2018 | 78 | -- | ||
| Fund | United States of America | -- | 28 | [email protected] | ||
| Fund | United States of America | 2020 | 52 | [email protected] | ||
| Fund | United States of America | 2017 | 95 | [email protected] |
Founders & Team
foobar
Company Profile / Project Introduction
Delegate is the solution to secure valuable onchain assets while still participating in NFT airdrop claims, ERC20 token governance, and more. Users link cold wallets with hot wallets, and then the hot wallet can act on behalf of the cold wallet, like crypto power-of-attorney. Delegate Labs launched its first protocol, Delegate, in 2022 to protect on-chain assets by linking cold and hot wallets. Cold wallets refer to devices that store cryptocurrency offline and are accessed with private keys; hot alternatives remain online. By connecting the two, Delegate allows users to secure their on-chain identities, harnessing the interoperability to work like a "crypto power of attorney".