Ambire raised $2.5 million in a funding round led by LAUNCHHub Ventures.

Ambire, a Sofia, Bulgaria-based software startup developing a DeFi-centric wallet, announced the closing of a $2.5 million seed funding round.

The money was raised from investors led by Bulgaria-based investors from LAUNCHHub Ventures, joined by a number of 12 major private investment firms including Ascensive Assets, Metacartel Ventures and Zee Prime. Danish Chaudhry, the CEO of the bitcoin.com exchange, also came onboard as an angel investor.

Ambire, founded in 2017 by Dimo Stoyanov and CEO Ivo Georgiev, developed a digital wallet that is a decentralized solution for digital advertising used to reduce fraud, helps optimize advertising budgets, and protects user privacy. The tool, called the Ambire Wallet, is still in open beta and will be controlled by the Ambire DAO (decentralized autonomous organization) and its $WALLET token holders, who will be earning fee revenues generated by the platform. $WALLET will be a governance token and will allow its holders voting power over changes to the proposal and the implementation of new protocols. The token will be launched soon.