Tangem Successfully Closes Investment Round, Fueled by Shima Capital

PRNewswire May 3, 2023

ZUG, Switzerland, May 2, 2023 /PRNewswire/ — Zug, Tangem AG, a leading provider of secure hardware wallet solutions, has announced the successful outcome of its latest investment round. The round came in at $8 million and was led by Web3 venture capital firm Shima Capital, with contributions from additional investors. It comes at a time of continued growth for the hardware developer and will help to propel Tangem to the next level.

Andrey Kurennykh, CEO of Tangem, shared his enthusiasm for the successful funding round: “We see great potential for our technologies to evolve as self-custodial storage experiences greater demand and more users choose to own their funds. The support from Shima Capital and the SBI Group will enable us to accelerate our growth and deliver enhanced solutions for secure digital asset management.”

With this new capital injection, Tangem is well positioned to expand its product offerings, further solidifying its position as a leader in the hardware wallet space. The company is dedicated to creating innovative solutions that empower individuals to take control of their digital assets, while providing the highest levels of security and ease of use.

“We’re thrilled to be leading this round for Tangem,” said Yida Gao, founder and Managing General Partner at Shima Capital. “The team is poised for rapid adoption and we see Tangem as a major player in the crypto hardware wallet space.”

SBI Digital Asset Holdings, part of the Japanese SBI Group and key investor in the first round, has expressed its enthusiasm with the deal, “Tangem’s cutting-edge technology and integration with payment networks are highly promising” said Fernando Vazquez, CEO of SBI Digital Asset Holdings.

For more information on Tangem and its range of secure hardware wallet solutions, please visit http://www.tangem.com

About Tangem

Tangem is a leading provider of secure hardware wallet solutions designed for the safekeeping and management of digital assets. Its mission is to empower individuals to take control of their digital wealth, with an emphasis on security, ease of use, and flexibility. Tangem’s innovative products have garnered significant interest from investors and customers alike, driving the company’s continued growth and success. For more information, visit http://www.tangem.com.

About Shima Capital

Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/.

About SBI Digital Asset Holdings

SBI Digital Asset Holdings is a digital asset arm of the Japanese financial conglomerate SBI group. The company endeavors to bring innovation to the financial industry by building an ecosystem for issuance, custody, management, and liquidity for digital assets. SBI Digital Asset Holdings, via SBI group companies, has strong links with other group investments such as Ripple, R3, B2C2, Digital Asset Holdings, Securitize, Elliptic as well as Sygnum, Boerse Stuttgart Digital Holdings and Tangem among others.

Please visit www.sbidah.com or www.sbigroup.co.jp/english for more information.

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