DeFi Wallet Ambire Raises $2.5 Million, LAUNCHHub Ventures Led Round

Ambire Wallet (WALLET), previously known as AdEx Network, shares the details of its latest fundraising round.

Ambire Wallet raises $2.5 million in strategic funding

According to a press release shared with U.Today, Ambire Wallet, a digital assets browser-based wallet tailored for DeFi use cases, has successfully concluded its funding round.

No turning back after you pass through the ?

Are you ready? https://t.co/1QrOF84MhW pic.twitter.com/9UHScu5c3y

— Ambire Wallet (@AmbireWallet) November 30, 2021

A total of $2.5 million was secured from a clutch of high-profile VCs and angel investors. Prominent accelerator LAUNCHHub Ventures led the round while Ascensive Assets, Metacartel Ventures and Zee Prime also backed the start-up in its fundraising efforts.

Blockchain entrepreneur Danish Chaudhry, CEO of the iconic bitcoin.com exchange, supported the round as an angel investor.

Ivo Georgiev, CEO of Ambire (formerly AdEx Network), stresses the importance of this round for the entire Web3.0 segment and user-friendliness of the DeFi sphere as a whole:

This endorsement of Ambire Wallet is incredibly gratifying for our talented development team, who have worked tirelessly on a wallet that brings defi exposure to the masses.The funding will help us refine and market our feature-rich wallet, which we firmly believe the crypto market has been crying out for. The capital will also be used to expand the team, incentivize integrations and provide liquidity for our native token on decentralized exchanges.

One-stop endpoint to DeFi

Todor Breshkov, founding partner of LAUNCHHub Ventures, is fascinated by the vision of Ambire Wallet's team and the progress it has achieved so far:

While there are a great many cryptocurrency wallets in the defi landscape, Ambire's latest product has huge promise, appealing to both newcomers and DeFi veterans. Having already brought several impactful products to market, the Ambire team has our full faith and confidence.

Ambire Wallet is a unique DeFi-centric wallet governed by a purpose-built decentralized autonomous organization, Ambire DAO.

Its members vote for crucial upgrades to the protocol using WALLET, which is a core governance asset for Ambire Wallet. Also, the product has ADX token available for staking.