NGRAVE

TLDR

NGRAVE is an Antwerp-based crypto hardware wallet company that built the ZERO, the only financial product in the world with EAL7 security certification, raising $6M in seed funding in January 2022.

Overview

Founded in 2018 by Ruben Merre, Edouard Vanham, and Xavier Hendrickx in Antwerp, NGRAVE developed the ZERO, a fully offline (air-gapped) hardware cryptocurrency wallet certified at EAL7 under the Common Criteria framework, the highest security certification level achievable, used in military and intelligence applications. The device communicates with its companion mobile app exclusively via QR codes, eliminating USB, Bluetooth, and Wi-Fi attack vectors entirely.

NGRAVE closed a $6M seed round in January 2022 from a consortium of DeFi and Web3 investors including Woodstock Fund, Morningstar Ventures, DFG Group, Spark Digital Capital, Moonrock Capital, and Mapleblock Capital. The ZERO wallet has been sold in 90 countries.

The company targets the premium self-custody market segment: individual holders and institutional investors who require hardware-level security guarantees for large cryptocurrency positions. NGRAVE differentiates on certification rigor and the elimination of any connectivity-based attack surface.

Key People

• Ruben Merre - Co-founder, CEO
• Edouard Vanham - Co-founder
• Xavier Hendrickx - Co-founder

Funding History

• January 2022: $6M seed from Woodstock Fund, Morningstar Ventures, DFG Group, Spark Digital Capital, Moonrock Capital, Mapleblock Capital