Identity wallet project SAFLE has undergone a major overhaul under the leadership of Apoorv Shankar and noted blockchain expert Shikha Mehra. With a valuation of $77 million, the Web3 startup is planning new AI and cross-chain features and gearing up for $SAFLE listings on leading exchanges in July 2024.
The exit of the previous management under Abhimanyu Kashyap has paved the way for a new leadership, bringing with it a restructured cap table and a vision for an exciting chapter in SAFLE’s journey.
SAFLE is back in action and going from strength to strength in 2024
SAFLE, a self-sovereign identity protocol and non-custodial wallet, first gained prominence in 2021 when it raised at an average valuation of $35 Million USD from leading VC funds like Draper Dragon, Woodstock, GSR, CryptoOasis, and Mapleblock, as well as angel investors like Polygon’s founder Sandeep Nailwal, former EU Parliament member Tony G and many more. The protocol’s multichain identity wallet and SafleID allow users to manage assets on 10+ blockchains through a single human-readable username.
In 2024, SAFLE successfully secured additional private funding from investors based in the Republic of Ireland through equity and token sales, achieving a combined valuation of $77 million USD. This financial backing will accelerate SAFLE’s expansion plans, including multiple listings on centralised exchanges. SAFLE’s journey has been marked by resilience in the face of challenges that could have derailed even the most ambitious projects. The fact that the company is now thriving and its market valuation is constantly growing is a testament to SAFLE’s ability to adapt to the constantly changing Web3 environment.
Apoorv Shankar, who now leads Technology and Product Vision at SAFLE, has been building cutting-edge products across IoT, AI, and Blockchain since 2013, demonstrating exceptional expertise in the convergence of technology and finance. Shankar has been joined by Shikha Mehra, head of a well-known Web3 consulting firm, who now presides over the Strategy and Governance arm at SAFLE.
Shikha Mehra’s expertise has been sought by entities as varied as the OECD, the UK Government (F&CO), ECB, and Indian Chamber of Commerce (ICC). She assisted the European Economic & Social Committee in drafting MiCA, as well as helped St Lucia in the Caribbean to plan new crypto-friendly legislation.
SAFLE product roadmap is set to transform Web3 experience
In the past few months, SAFLE has expanded its in-house development team with top-tier specialists in blockchain technology, AI, and cross-chain integrations. They will work on delivering new cutting-edge features, including:
- AI: Artificial Intelligence will be used to enable account abstraction, transaction execution, and data analysis;
- SSI (onchain identity);
- Seamless pseudonymous onboarding;
- New chain integrations, with a focus on Bitcoin’s emerging L2 ecosystem;
- Enhanced DeFi support, including a web portfolio viewer, unified portal for connecting to dApps, as well as in-wallet access;
- Cross-chain features, including swaps, bridging and transactions;
- UX improvements, such as advanced recovery options and a Wallet Connect integration;
- Intent-based architecture: a new approach to Web3 transactions, where the SAFLE app automatically determines the best execution path to fulfil the user’s intent, rather than prompting the user to specify all the parameters.
A Vision for the Future
The new Strategy & Governance Head Shikha Mehra says, “I admire the team of SAFLE for their resilience in the times of crisis. Even in the depth of the bear market, they have maintained a clear vision of what they wanted to bring to Web3: the best self-sovereign cross-chain identity solution out there. ‘Keep building’ may be a common blockchain trope, but it fully applies to SAFLE – and I am really proud and excited to be leading the team on the next stage of this journey.”
The next major step in the new roadmap is the listing of $SAFLE on leading centralized exchanges, scheduled for July. These will be accompanied by a host of new partnerships.
Stay up-to-date with listing announcements and $SAFLE development news via X (Twitter), as well as the official website.
