Cypherock
Developer of security storage solutions intended for blockchain based digital assets and private keys.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $1.0m | Seed | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 115 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
Related Content
Cypherock operates in the digital asset security market, offering a unique hardware wallet solution known as Cypherock X1. This product is designed to eliminate the need for traditional seed phrase backups, thereby addressing key management issues that hinder the adoption of decentralized technologies. The company aims to empower individuals to have full control and peace of mind over their crypto and personal data, similar to the security they experience with traditional bank vaults. Cypherock primarily serves cryptocurrency users and digital asset holders who prioritize security and self-custody. The business model includes direct sales of the Cypherock X1 hardware wallet and an affiliate program that incentivizes users to promote the product. Revenue is generated through product sales and affiliate commissions. The market for Cypherock includes both individual cryptocurrency enthusiasts and institutional investors looking for robust security solutions.
Keywords: hardware wallet, digital assets, self-custody, cryptocurrency, security, decentralized technologies, key management, affiliate program, cold storage, BIP39 compliant.