Utila, an Israeli startup providing institutional-grade Multi-Party Computation (MPC) wallets, has raised $18 million in a Series A funding round to accelerate its global expansion and R&D initiatives. The round was led by Nyca Partners, with participation from Wing VC, NFX, and funds such as Haymaker Ventures, Gaingels, and Cerca Partners.
Since emerging from stealth in March 2024, Utila has raised a total of $30 million, positioning itself as a key player in secure digital asset management. The company’s MPC wallet technology enables institutions to manage and store cryptographic assets with enhanced security, compliance, and efficiency, eliminating single points of failure and reducing risks associated with private key management.
With the rapid growth of the digital asset ecosystem, Utila is scaling to meet the surging demand for secure, institutional-grade MPC wallet solutions. The new funding will support its expansion into new markets, bolster cutting-edge cryptographic research, and enhance its next-generation security infrastructure for institutional clients.
As blockchain adoption continues to rise, Utila is at the forefront of revolutionizing digital asset custody, providing unparalleled security and efficiency for financial institutions worldwide.
The rapid adoption of digital assets is triggering a significant overhaul of traditional financial infrastructure, as organizations grapple with the escalating demand for operational applications such as payments, tokenization, and treasury management. Utila provides a secure, reliable, and institutional-grade platform, enabling organizations to navigate this dynamic market with confidence. In just 18 months, Utila has achieved $35 billion in digital asset transactions, served hundreds of global clients, and established itself as a premier institutional-grade digital asset operations platform.
“Utila’s mission is to be the leading institutional-grade wallet for this new era, which requires an entirely new set of product capabilities such as efficient gas management, scalable APIs, deep support for smart contract interactions and connectivity to banking rails,” said Bentzi Rabi, Co-founder and CEO of Utila. “Organizations don’t have many options today. They’re mostly stuck between ‘old-generation’ institutional wallets that are inflexible and lack relevant product offerings, or ‘simple’ wallets that are not institutional-grade. We provide the ultimate platform for on-chain operations with the highest security standards in the market.”
