Theya: A Silicon Valley All-Star Shifts To Bitcoin Self-Custody

Sriram Bhargav Karnati believes that top-notch security and usability are not mutually exclusive when it comes to managing your bitcoin.

Theya is a Bitcoin self-custody company that was founded in December 2023 by Sriram Bhargav Karnati, Smeet Bhatt and Vikas Choudhary. The company's headquarters are in San Francisco, CA. The founders have a combined experience of over 50 years in technology, logistics and finance. They are also avid Bitcoiners who believe that everyone should have the opportunity to self-custody their bitcoin.

Theya's flagship product is a 2-of-3 multisig mobile bitcoin vault that doesn's require the use of a hardware wallet. This makes it an ideal solution for families or anyone who wants to store their bitcoin securely without the hassle of a hardware wallet. Theya also offers a free single-sig mobile bitcoin wallet that is compatible with hardware wallets.

The company has raised $1.5 million in seed funding from Y Combinator, Soma Capital and angel investors. The founders chose to accept funding from Y Combinator because of their interest in helping to financially accelerate startups in the broader crypto space. They also appreciated Y Combinator's appreciation for their mission to onboard as many people to self-custody as possible.

Karnati, a graduate of the Indian Institute of Technology, Bombay, has worked for several prominent technology companies, including Google and Robinhood. He is also a contributor to several open-source projects. Karnati's passion for Bitcoin began in 2014 when he read Satoshi's whitepaper and later purchased bitcoin on an exchange. He was impressed by the ease and speed of the transaction compared to sending international remittances via the traditional financial rails.

Karnati's experience in building consumer products for major companies like Google and Robinhood, combined with his deep understanding of Bitcoin, make him the ideal person to bring multisig Bitcoin vaults to the masses. He knows that if Bitcoin is going to scale the way it was intended to — with users holding bitcoin in self-custody — then it has to become easier to use a non-custodial bitcoin wallet or vault.

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