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Trustology, a London-based startup focused on securing digital assets, has raised $8 million in a seed round led by Two Sigma Ventures, the early-stage venture capital fund of Two Sigma, and participation from ConsenSys.
According to the official release, both investors will be joining Trustology's board of directors. The company plans to use the funding to develop new capabilities like smart accounts with programmable controls, support additional asset classes and expand its operations internationally. It is currently onboarding selected beta clients.
Founded in 2017, Trustology is a ConsenSys-incubated company developing technology and services to help private and institutional clients secure digital assets.
In an online post, Matt Jacobus, Venture Partner at Two Sigma Ventures, and Erhan Soyer-Osman, an investor on the Two Sigma Ventures team, said that Trustology’s first product, TrustVault, will be a “potential game changer” for any institution or enterprise that needs immediate access to their digital assets to manage investments, risk, or to transact real-time.
“TrustVault strives to streamline this process and authenticate using biometrics, encrypt instructions using a user device’s secure enclave, sign transactions in an infrastructure where no human can access and no computer other than your device can message, and finally write transactions to the blockchain,” they said.
Joseph Lubin, ConsenSys Founder, believes that Trustology will help drive institutional adoption of digital assets.
"Trustology has developed breakthroughs in key management and is providing support services to clients seeking unparalleled safeguarding for digital assets. By prioritizing security without the need to sacrifice accessibility, Trustology will serve current digital asset holders and attract new institutional and individual investors to the space,” Lubin said.
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