We are thrilled to announce our $4M Seed round, led by BlockTower, and backed by our existing investors, Fabric and Frst. We also proudly welcome aboard a16z Crypto Startup School, Cherry, Motier, Bpifrance, and strategic angels including Sandeep Nailwal (Polygon), Seb Borget (The Sandbox), and Fred Montagnon (Arianee).

We are pioneering the usage platform for web3 wallets. Our core product is a governance and orchestration layer compatible with any custody method, allowing organizations to manage and use all of their digital assets on-chain, either in-app or programmatically.

The Web3 World of Usage

We’ve entered the third era of the internet - an internet owned by the builders and the users. We believe that web3 matters, and that blockchain technology will create a true decentralized data layer, centered around the following characteristics:

• Fungible and Non-Fungible Tokens: As the core primitives for digital property, those digital assets & objects can represent virtually anything: from art, in-game objects, and membership rights, to financial assets, social identity, and tokenized real-world assets.

• Shift from Crypto Trading to Web3 Usage: The next phase will not be solely about trading crypto assets on centralized exchanges, but also about interacting with decentralized applications, protocols, DeFi, NFT-Fi, using NFTs, and much more.

• Organizations around Digital Assets: In the future, every organization will own and utilize digital assets, the same way that every organization owns and utilizes physical assets today.

Narval's Core Innovation

Key storage was the need in the cryptocurrency era. Secure usage & access control is the game in the digital property era. Key storage is maturing, with significant advancements in MPC, smart wallets, and HSMs, resulting in multiple options for securing keys - via a custodian or self-custody or decentralized-custody - depending on an organization’s needs and use-cases.

As key generation & storage decouples from the rest of the wallet stack, Narval's core innovation is a granular governance and orchestration layer over any key storage and custody model, designed from the ground up to enable precise usage & access control over digital property.

Addressing Current Challenges

We are convinced that digital assets are meant to be used on-chain and not to sit idly in a vault. But today, organizations can’t securely use their digital assets:

1. Existing Solutions: Current solutions like multisigs & institutional custodian products are designed to securely store treasury assets. They lack the capabilities to manage the depth and granularity of interactions needed with web3, such as contract calls, token approvals, off-chain message signatures, NFT interactions, etc.

2. Personal Wallet Use: Most “organizations in web3" have people use their personal wallets for organizational purposes, such as managing NFTs with private keys held on personal devices - this is insecure and carries operational risk.

3. Multiple Wallet Types: Organizations use a combination of wallet types (MPC, Private Key wallets, and Multisigs) for different use cases, but are stuck with inconsistent, siloed governance and management tools.

Narval’s Concrete Solutions

Through our unified governance layer, which is accessible via a management console, wallet client, and open API, we aim to empower organizations in three significant ways:

1. Creation and supercharging of organization wallets: For internal teams/members, third parties, or automation services - allowing them to securely and efficiently interact with the world of web3.

2. Granular control over who can do what with organization-owned assets and wallets: This ensures secure usage and goes beyond simply setting up spending limits. It's about having granular policies over every transaction and interaction within the organization.

3. Unification of preferred custody & storage models: Providing unified governance & management tools across MPC, Private Key, and Account Abstraction wallets, we allow organizations to seamlessly adopt the approach that best fits their needs.

So who is Narval for?

We are built from the ground-up around the use case of interactions with web3 applications and protocols across your organization. As organizations increasingly need to use digital assets consistently, they need to provide delegated access to use their assets, to:

• Internal teams and individuals: Just like these teams or individuals get a company email account when they join a business, they should also get a company wallet account to manage and operate the organization's assets.

• External parties/APIs: Third parties, like marketing agencies or automation services such as accounting software, will be granted the correct access levels to perform their operations with the organization’s assets.

We’ve gathered unique data and insights from having helped the industry’s leading gaming DAOs/Guilds manage thousands of NFTs and tokens via their members across varying preferred custody models. This has helped us to understand how organizations use digital assets, what they need/want, and the technical solution required to build the best possible product. Our amazing tech & product teams are leveraging our initial success to expand beyond this initial use case.

If your finance/treasury managers need to interact with DeFi or NFT-Fi, we want to talk to you. If you need a marketing agency to deploy an NFT contract & mint through their preferred third party NFT drop suite, we want to talk as well. If your QA testers, developers, designers need to load tokens to build and test your product, we also want to talk. Those are only a few examples: more generally, if your organization needs to consistently interact with on-chain applications and control access to wallets, we are eager to help you securely use your digital assets and unlock the full potential of web3 - we want to talk to you.

Our team will be at EthCC Paris next week, so please don't hesitate to reach out!

LET’S BUIDL