Bitcoin hardware wallet provider Case Wallet Inc. has raised USD $1.5 million in an equity seed funding round led by FuturePerfect Ventures, participated in by RRE Ventures, High Line Venture Partners and the Rochester Institute of Technology Fund.
The company launched its hardware wallet at TechCrunch NY on May 4, and has been receiving preorders for the first batch of the multisig, multi-factor and credit-card-size hardware bitcoin wallets set to be shipped this summer.
With the new financing, the company aims to search for other possible usages for its secure signing device that utilizes biometric data. According to the company, Case already has gained the interest of well-established financial institutions that hope to implement the system to handle sensitive user data.
The Case hardware wallet has several features and functionalities that complete a biometric data security and authorization system. Specifically, by using three main components of the device – a fingerprint scanner, a camera and a GSM chip in the hardware wallet – transactions are authorized or sent with fingerprint information, which are then processed on Case’s servers. Once the verification in its servers is complete, the transactions are signed by the Case servers and propagated to the