Giddy builds a recoverable self-custody smart wallet that splits a user’s private key into encrypted shares stored across multiple user-controlled locations. The company says its MPC technology lets users recover their wallet even if they lose a recovery share. Giddy raised $6.9M in new funding, bringing total investments in the company to more than $15M to date. Investors in the round included Pelion Venture Partners, Peak Capital Partners, Clarke Capital and others, with a strategic investment from Fortnite co-creator Geremy Mustard; Pelion led an $8M round in 2022. Proceeds will be used to further Giddy’s strategy to bring crypto adoption to the masses through its recoverable self-custody technology. The firm positions its product as a response to risks highlighted by collapses of centralized exchanges and growing demand for self-custody. Giddy is a Draper, Utah-based mobile app founded in 2021 that aims to enable mainstream DeFi adoption. The company is preparing to launch a platform that provides staking for DeFi users and offers a wallet designed for secure transactions and easy withdrawal. Its technology and product design focus on making DeFi accessible to average cryptocurrency holders regardless of technical experience or wallet size. Giddy raised $8M in seed funding to support its launch and growth. The round was led by Pelion Venture Partners and brought in a diverse group of strategic and angel investors. The article does not disclose operating metrics such as revenue or user counts.

Total raised

$15M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2023