Hassan Maishera
TL;DR
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Keplr has raised $5m in a seed round led by 1confirmation.
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The funding round has increased Keplr’s valuation to $50 million.
Kepler Raises $5m in a Seed Round
Keplr, a crypto wallet provider, has raised $5 million in a seed funding round, bringing its total valuation to $50 million. This latest development comes after it operated for four years as a bootstrapped company.
Co-founder Josh Lee told The Block that the funding round was led by Nick Tomaino's 1confirmation, with participation from Coinbase Ventures, HashKey Capital, Chorus One Ventures, Skip Protocol, Binary Builders, and others.
Keplr has been around since 2021, as it was initially launched on the Cosmos blockchain. It currently has over 2 million users, making it the largest Cosmos wallet despite the Terra collapse of 2022 that affected its growth.
The funding comes five months after Keplr introduced support for Ethereum Virtual Machine (EVM)-compatible chains, enabling users to manage Ethereum assets directly within the wallet.
In October, Kepler integrated with Starknet, marking its first integration with a non-EVM ecosystem beyond Cosmos.
According to Lee, Keplr has no plans to launch a token. He stated that,
"There is a bigger picture that needs to be played out in regards to connecting ownership, verifiability, and usability for Keplr first before we start considering tokens."
While commenting on the funding round, 1confirmation's general partner Tomaino said,
"We see a future where the most useful crypto apps want their own chains, and the products Keplr is building are essential to this vision."
With the new funding, the wallet provider seeks to enhance its platform by hiring additional people for its engineering and product development teams. Keplr also plans to improve the user experience and expand support for both EVM and non-EVM blockchains.
