Utila Attracts $11.5M
Utila has successfully completed a seed funding round, co-led by NFX and Wing VC, raising $11.5 million to support the development of their institutional crypto platform.
The round also saw participation from Framework Ventures and notable angel investors, such as Balaji Srinivasan, Charlie Songhurst, and Surojit Chatterjee.
Utila’s non-custodial, chain-agnostic wallet allows institutions and developers to securely manage digital assets.
Over the past six months, the platform has been utilized by dozens of institutional investors and crypto-native firms, facilitating over $3 billion in transactions.
The funding was raised over the course of 2023 and will be used to expedite product development, as well as grow Utila’s current team of 25 people. A Utila spokesperson confirmed that the company declined to disclose their valuation or details of the round’s structure.
Utila aims to address the challenges of crypto adoption for companies by providing services for operational, regulatory, and security issues.
