Braavos Raises US$10M in Funding
Summary
Braavos, a Tel Aviv, Israel-based self-custodial smart contract-based wallet running on top of StarkNet, closed a US$10m round of financing. Founded in early 2022 by Motty Lavie (CEO), Abraham Makovetsky and Yoav Gaziel, Braavos is an all-in-one crypto asset management solution for StarkNet—an Ethereum layer-2 ZK Rollup—offering a smart contract-based wallet that provides users with enhanced security and UX features. Through Braavos, users can connect to dApps; utilize Braavos’ built-in exchange; review transactions in a self explanatory way via Braavos’ Transaction Explainer functionality; as well as traditional wallet features, such as securely transfer/receive ERC20 tokens and convert to USD; browse NFT collectables (images, music, and video); and access developer tools to help developers build and test their apps using the wallet. For optimized security, Braavos has introduced a built-in Hardware Signer, which utilizes users’ existing mobile device Trusted Execution Environment capabilities paired with biometric identification to secure wallets and prevent theft—addressing a key concern for many users reluctant to rely only on a text password to protect their assets. This advanced security scheme is made possible by having Braavos smart contract wallet able to perform arbitrary verification logic on the signed transaction, harnessing the device’s built-in cryptographic algorithm residing within the TEE isolated hardware.
Funding
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