Ambire wallet raises $2.5M in LAUNCHHub-led funding round

Ambire, a browser-based crypto wallet, raised $2.5 million in a funding round led by LAUNCHHub Ventures, Invezz learned from a press release. The company, which optimizes gas fees while providing exposure to DeFi earning opportunities, received funds from a number of leading, private investment firms, including Zee Prime, Ascensive Assets, and Metacartel Ventures.

Bitcoin.com CEO Danish Chaudhry joined the round as an angel investor.

Ivo Georgiev, CEO of Ambire commented:

Todor Breshkov, founding partner of LAUNCHHub Ventures, added:

Ideal for novices and veterans alike

Ambire Wallet is designed to alleviate common issues in decentralized finance and is ideal for both novice users and veterans of crypto. The wallet makes it possible to invest funds in multiple DeFi protocols with one click, cutting gas fees and saving users time. They can bypass KYC by connecting an existing wallet or registering with email and password.

Addressing the issue with stuck transactions

The wallet app addresses the issue with stuck transactions using a combination of trading optimizations, batched transactions, and Flashbots. It can be used with a hardware wallet for extra security.

WALLET token confers voting rights

Ambire DAO and WALLET token holders control the DeFi-centric wallet. WALLET is the first governance token of its kind. It confers voting rights over changes to the proposal and the implementation of new protocols. Ambire is an element of a comprehensive ecosystem that includes a staking portal and a privacy-preserving advertising platform.