Beijing-based cryptocurrency wallet startup, Cobo, has raised $13 million in a Series A round led by DHVC and Wu Capital.
The venture will use the cash to support the global expansion of its two flagship products: Cobo Wallet, a multi-asset cryptocurrency software wallet that lets users securely grow their cryptocurrency holdings through Proof of Stake (PoS) mining rewards, and Cobo Vault, pitched as the world’s first all-around secure, military-grade cryptocurrency hardware wallet.
Since launching earlier this year, Cobo Wallet has attracted more than 500,000 users and supports over 30 major cryptocurrencies and 500 tokens. “Cobo’s unique approach redefines the concept of crypto asset management and creates new opportunities for investors,” says Judy Yan, Managing Director of DHVC.
“The team leverages their extensive blockchain experience to help safeguard users’ assets while also generating returns for their benefit. We believe Cobo will lead an entirely new user experience for PoS coin holders.”
“With the increasing investment into cryptocurrencies, the only truly safe means of securing crypto is to store it in a cold storage wallet,” says Changhao Jiang, Co-founder and CTO of Cobo. “Cobo Vault sets a new, groundbreaking standard for cold storage wallets, with the first truly all-around secure hardware wallet designed for holders that can’t risk losing their investment.”