Capsule, a crypto wallet infrastructure startup, emerged from stealth with funding.
Andreessen Horowitz (via its accelerator Crypto Startup School) and Geometry co-led the funding, Capsule said Tuesday, without disclosing the raised amount. A16z's CSS accelerator program typically invests $500,000 in participating startups in exchange for 7% equity, according to its website. Other backers include Spice Capital, Anchorage co-founders Diogo Monica and Nathan McCauley, Celo co-founders Rene Reinsberg and Marek Olszewski and Sommelier Finance co-founder Zaki Manian.
Capsule was founded last year by Nitya Subramanian, a former head of product at the Layer 1 blockchain Celo, to help developers create wallets with interoperable transacting. Rivals include Web3Auth and Coinbase's recently announced Wallet as a Service product.
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