Ryder, a hardware crypto wallet company, has successfully raised $3.2 million in a seed funding round led by Draper Associates, with participation from notable investors including Solana co-founder Anatoly Yakovenko. The funding will be used to boost production of the Ryder One hardware wallet, as well as to expand the company's marketing and engineering teams. In conjunction with the funding announcement, Ryder has launched TapSafe, a new recovery solution designed to replace traditional mnemonic phrases. TapSafe utilizes distributed backups via mobile phones and NFC recovery tags, requiring physical access for retrieval, thus enhancing security by eliminating single-point-of-failure recovery phrases. Ryder claims that wallet creation and backups can be completed in under 60 seconds, offering a streamlined and secure user experience.
Ryder Raises $3.2M, Launches TapSafe to Enhance Crypto Wallet Security
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