Utila Raises $11.5M in Seed Funding


Utila, a Tel Aviv, Israel-based startup provider of a platform that enables institutions to handle their crypto assets, raised an $11.5m in seed funding.

Bakers included NFX, Wing VC, Framework Ventures, Fasanara Digital Ventures, North Island Ventures, Republic Capital, Liquid2, Inspired Capital, Lyrik Ventures, DCG Expeditions, Launchpad Capital, Shima Capita, K5 Global, Big Brain Holdings and Impatient, along with angels such as Balaji Srinivasan. 

The company intends to use the funds to expand operations, its business reach, and its development efforts.

Led by Bentzi Rabi, CEO, Utila is an enterprise-grade crypto operations platform enabling organizations of all sizes to manage their digital assets securely. They offer a secure, non-custodial, chain-agnostic, enterprise-grade wallet platform powered by MPC key management for security and a transaction policy engine for granular control. With its institutional MPC wallet, institutional investors, trading firms, and Web3 builders can efficiently manage crypto assets across multiple blockchains, wallets and users on a single platform without any complexity. Additionally, developers can leverage an API to build custom offerings on top of our secured multi-chain wallet infrastructure. Used by industry leaders like Fasanara, Starkware and Psalion, Utila has secured over $3 Billion in transaction volume within a few months and is growing rapidly.