Station70 Secures $5 Million in Seed Funding for Disaster Recovery Platform

April 02, 2024

Station70, a disaster recovery infrastructure platform, announced it had secured $5 million in seed funding. The round was led by Castle Island Ventures, with participation from Fireblocks, Notation Capital, Semantic Ventures, SCB 10X, and CoinShares. This funding will support the launch of Station70’s product suite, starting with Bunker, which focuses on trusted recovery solutions for institutional firms in the cryptocurrency industry.

Project	Latest Raise Date	Latest Raise	Stage	Total Raise	Category
Station70	Apr 02, 2024	$5M	Seed	$5M	Security

Station70’s Trusted Recovery products are designed to enable clients to securely backup and recover their keys. The Bunker solution is protocol, blockchain, and wallet provider agnostic, offering flexible tiering options based on clients' needs. It ensures that Station 70 has zero knowledge of the keys, maintaining sole control of the assets with the owners.

Adam Healy, CEO and Co-founder of Station70 emphasized the importance of secure self-custody asset management. He noted that over $1.8 trillion in digital assets are held in self-custody, and very few firms have comprehensive systems for disaster recovery and business continuity of these assets. Station70 aims to fill this gap by providing robust disaster recovery solutions for the institutional digital asset industry.

About Station70:

Station70 is a disaster recovery infrastructure platform headquartered in Nashville, Tennessee. The company offers a resilient, wallet-agnostic platform for scalable and secure digital asset key backup and recovery. Station70 was founded by Adam Healy, former CISO at Bakkt and BlockFi, and Dr. Adam Everspaugh, a former cryptographer at Coinbase. The company aims to solve many of the problems plaguing the institutional digital asset industry, starting with the launch of Bunker. Station70 plans to integrate with additional wallet providers and expand its product suite to offer comprehensive disaster recovery and business continuity solutions.

Website: https://www.station70.com/ 

X Account: https://x.com/station_70

X Followers today: 62

About Investor

Investor: Castle Island Ventures

Castle Island Ventures, a venture capital firm, focuses exclusively on public blockchains. The firm invests in infrastructure and application companies that will enable these transformative protocols to power services for the next billion users. Castle Island Ventures believes permissionless blockchains represent a new politico-economic institution that will fundamentally alter market structures and spawn entirely new industries. 

Location:  United States

Website: https://www.castleisland.vc 

A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.