TechFlow news, October 17 — According to Techinasia, Singapore-based cryptocurrency hardware wallet manufacturer Ryder has raised $3.2 million in a seed funding round led by Tim Draper, founder of Draper Associates. Other investors include venture capital firms Borderless, Semantic, Smape, and VeryEarly, as well as angel investors Anatoly Yakovenko, co-founder of Solana, and Joe McCann, CEO of Asymmetric.
Ryder will use the funds to increase production, expand its marketing and engineering teams, and further develop its Ryder One wallet product. The Ryder One features a recovery system called TapSafe, which enables wallet access recovery via mobile devices and NFC tags, a method the company claims eliminates the need for traditional seed phrases.
