Cryptocurrency wallet startup Cobo raises $13M Series A to enter the U.S. and Southeast Asia

Cobo, a cryptocurrency wallet startup headquartered in Beijing, has raised a $13 million Series A to enter new international markets. The round was led by DHVC and Wu Capital, a family office based in China. Cobo plans to expand in the United States and Southeast Asia, in particular Vietnam and Indonesia. Cobo is also now taking pre-orders for Cobo Vault, a hardware wallet (pictured above) that it claims is military grade. Cobo’s Series A brings its total funding to $20 million so far.

Cobo Wallet allows users to store both proof-of-stake and proof-of-work coins. One incentive for people to pick the app over its competitors is the ability to pool proof-of-stake assets with other users so they can increase their chances of mining and validating new blocks on the blockchain. Since launching earlier this year, Cobo says its digital wallet has gained more than 500,000 users.

The startup was founded last year by CEO Shixing Mao, who is known as Discus Fish in the crypto community, and CTO Changhao Jiang, a former platform engineer at Facebook and Google who co-founded Bihang, a cryptocurrency wallet acquired by OKCoin in 2013. Discus Fish, meanwhile, is known for launching F2Pool, China’s first mining pool.

Cobo Vault, which will retail for $479, meets the MIL-STD-810G U.S. military standard for equipment, Cobo’s head of hardware Lixin Liu said in an email, adding that it was built with proprietary firmware created especially for the device, a bank-grade encryption chip and military-grade aluminum.

Cobo Vault’s creation was prompted by an August 2017 incident in which F2Pool was hacked and more than 8,000 ETH was stolen from Discus Fish’s account. Fish also refunded customers’ lost ETH from his own assets. “As a result, Discus Fish was resolute on the fact that for crypto to gain mass market adoption, products had to be made to be hacker-resistant and truly safe,” said Liu.

YC grad Oh My Green gets $20M seed investment

In its first institutional funding round, Oh My Green has raised $20 million from Initialized Capital, Powerplant Ventures, Backed VC, ZhenFund, Talis Capital and the Stanford StartX Fund to bring healthier foods to offices around the U.S.

The concierge-style startup, which completed Y Combinator’s startup accelerator in 2016, provides businesses in San Francisco, Los Angeles, Seattle, Chicago, Austin, Denver, Boston, New York City and Nashville nutritional snacks and meals. It stocks office snack pantries — a staple at tech startups — caters events, manages cafes and provides wellness programming. Its goal is to be a one-stop shop for corporate nutritional wellness. 

The San Francisco-based company was founded in 2014 by Michael Heinrich. Based off my conversation with him earlier this week, I’m guessing he wouldn’t approve of the TechCrunch snack cupboard, which includes a year-long supply of Skittles, M&Ms and Fruit by the Foot.

“I wanted to do something more meaningful in my life,” Heinrich told TechCrunch. “I had worked in really challenging environments and I found myself really enjoying the people and the problems but looking at the food we had available, a lot of it was ultra-processed and ultra-sugared.”

“When I was sugar crashing and not being productive at work, I realized I should stop complaining and actually make a difference,” he added.

Oh My Green’s tech-enabled service, which relies on machine learning to give its customers personalized recommendations for meals and snacks, has 200 customers today, including Lyft, Apple and Y Combinator. With the investment, the company will expand throughout the U.S. and eventually launch overseas.