Singapore’s Safeheron raises $7M Series Pre-A funding led by Yunqi Partners and Web3Vision

Safeheron, a Singapore-based self-custody solution provider, is announcing $7 million in Pre-A funding co-led by Yunqi Partners and Web3Vision.

The round also saw participation from PrimeBlock Ventures, M77 Ventures, ShataCapital, Kryptos, Antalpha Ventures, Waterdrip Capital, 7 O’CLOCK CAPITAL, Rokid’s Founder Misa Zhu, and Fan Zhang, the former co-founder of Sequoia Capital China, Safeheron said in a statement.

“The $7 million in Pre-A funding will give Safeheron the ability to scale our technology and services to more clients this year,” said Wade Wang, Chief Executive Officer and Founder of Safeheron.

Safeheron is an open-source, zero trust one-stop self-custody solution provider for Web3.0 small and medium-sized enterprises (SMEs), founded by a team with more than a decade of experience in cybersecurity and cryptography.

Based on self-developed MPC and Trusted Execution Environment technologies, and a flexible policy configuration that can be tailored to a business’ complex needs, Safeheron enables SMEs to gain access to trusted and transparent industry-leading institutional-grade security and multi-party management features. Its two products include its MPC wallet-as-a-service and its private custody solution.

The firm has raised $9 million in total funding, with its Pre-A round co-led by Yunqi Partners and Web3Vision, with participation from PrimeBlock Ventures, M77 Ventures, ShataCapital, Kryptos, Antalpha Ventures, Waterdrip Capital, 7 O’CLOCK CAPITAL, Rokid’s Founder Misa Zhu, and Fan Zhang, former co-founder of Sequoia Capital China.

“Custody security providers often compete for enterprise clients, shunning SMEs with unaffordable solutions. So, we’re excited to back Safeheron, who’s making the safeguarding of crypto assets with enterprise-grade custody security solutions more accessible,” said Yu Chen, Partner at Yunqi Partners.

In conjunction with the investment, Safeheron is also announcing its strategic partnership with MetaMask to integrate enterprise-grade multi-party computation (MPC) multisignature security solutions through devices and applications supporting MetaMask Snaps, MetaMask’s browser extension, MetaMask mobile, and the Keystone hardware wallet.

“We’ve spent years developing our radically complex open-source, zero-trust MPC-TEE security solution in-house, which until today is a first in Asia. We’re thrilled to apply our secure MPC multisignature technology, which for the first time enables users to verify transactions on MPCSnap, a MetaMask Snap, and with the Keystone hardware wallet as it can now sign MetaMask transactions through a dynamic QR code,

“And we’re also looking forward to supporting the extension and mobile app in the future,” said Wang.

According to the statement, Safeheron’s MPC technology is customized for MetaMask and first integrated through MetaMask’s Snaps system, which enables developers the opportunity to expand the capabilities of MetaMask for their dApps.

With Safeheron’s MPC solution, end-users can now enjoy an additional layer of protection. This means, instead of signing a transaction with just one device or application – like the MetaMask mobile wallet – users can sign transactions using two or three supported verification devices and applications.

Supported devices and applications integrated with Safeheron’s MPC multisignature technology can include the Keystone hardware wallet, MetaMask’s desktop extension, and MetaMask mobile

“An important next step for user and business security on the blockchain is easy access to multi-factor authentication. Safeheron’s MPC technology, combined with the Keystone hardware wallet and MetaMask Snaps, is an incredibly exciting project in this area. MetaMask Snaps offers a way for any team to extend the capabilities of MetaMask and we’re specifically enthusiastic to partner with Safeheron to trial their tech to help introduce an extra layer of protection for MetaMask users,” said Alex Jupiter, Senior Product Manager at MetaMask.

Safeheron raises $7M Series Pre-A funding led by Yunqi Partners and Web3Vision. Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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