Blockchain Wallet Startup Bitski Raises $1.8M USD From Coinbase, Galaxy Digital And Winklevoss Capital

Blockchain, Investing, News | November 14, 2019 By:

Blockchain wallet infrastructure provider Bitski has closed it’s $1.8 million seed round, bringing a total $3.5 million in funding from participants with a deep understanding of blockchain. Investors include Galaxy Digital, Winklevoss Capital, Kindred Ventures, Coinbase, SV Angel, Animoca Brands, Signia Ventures, Bobby Goodlatte and others.

Bitski is building developer tools for blockchain-focused developers. The company’s flagship product is an easy-to-integrate cryptocurrency wallet for the ethereum ecosystem, enabling apps to offer wallet support for their users. In the last year, over 300 apps have been created on Bitski’s platform and growing daily. Bitski’s set of developer tools help partners like The Sandbox, Clementine, Props, and SportX to bring their ideas to a mainstream audience.

Bitski co-founder and CEO Donnie Dinch said that the latest funding will be used to expand the funnel of people that are building on blockchain.

“One of the great challenges for protocol teams and product companies in crypto today is the poor UX in dApps, specifically onboarding, transactions, and sign-in/password recovery,” said Dinch. “We interviewed a ton of dApp developers. The minute they used a wallet, there was a huge drop-off of folks. Bitski’s vision is to solve user onboarding and wallet usability for developers, so that they can in-turn focus on creating unique and useful dapps.”

Sterling Witzke, Partner at Winklevoss Capital, said that Bitski’s developer platform allows developers to easily provide their users with a secure and usable wallet, eliminating the friction of customer onboarding that has previously hampered blockchain applications and user adoption.

“We’re excited for Bitski to help catalyze the next wave of companies integrating blockchain into their products,” said Witzke.