Tangem AG, a leading provider of secure hardware wallet solutions, has announced the successful outcome of its latest investment round. The round came in at $8 million and was led by Web3 venture capital firm Shima Capital, with contributions from additional investors. It comes at a time of continued growth for the hardware developer and will help to propel Tangem to the next level.
Andrey Kurennykh, CEO of Tangem, shared his enthusiasm for the successful funding round: "We see great potential for our technologies to evolve as self-custodial storage experiences greater demand and more users choose to own their funds. The support from Shima Capital and the SBI Group will enable us to accelerate our growth and deliver enhanced solutions for secure digital asset management."
With this new capital injection, Tangem is well positioned to expand its product offerings, further solidifying its position as a leader in the hardware wallet space. The company is dedicated to creating innovative solutions that empower individuals to take control of their digital assets, while providing the highest levels of security and ease of use.
"We're thrilled to be leading this round for Tangem," said Yida Gao, founder and Managing General Partner at Shima Capital. "The team is poised for rapid adoption and we see Tangem as a major player in the crypto hardware wallet space."
SBI Digital Asset Holdings, part of the Japanese SBI Group and key investor in the first round, has expressed its enthusiasm with the deal, "Tangem's cutting-edge technology and integration with payment networks are highly promising" said Fernando Vazquez, CEO of SBI Digital Asset Holdings.