Crypto Wallet Infrastructure Startup Capsule Closes New Funding Round Led by a16z and Geometry

Capsule, a crypto wallet infrastructure startup, announced a new round of funding, co-led by a16z (via its accelerator Crypto Startup School) and Geometry, without disclosing the raised amount. Other backers include Spice Capital, Anchorage co-founders Diogo Monica and Nathan McCauley, Celo co-founders Rene Reinsberg and Marek Olszewski and Sommelier Finance co-founder Zaki Manian.

Founded last year by Nitya Subramanian, a former head of product at the Layer 1 blockchain Celo, Capsule aims to help developers create wallets with interoperable transacting. Its rivals include Web3Auth and Coinbase's recently announced Wallet as a Service product.

Capsule joined the a16z CSS program last week and it will run until May. CSS is a 12-week accelerator course that provides mentorship from industry experts. Participants also get access to a16z's network for potential customers, advisers and investors to help them develop and scale their startups.