Untilum
§03 · Investors

Trustless delayed-disclosure infrastructure.

Untilum seals any file until a chosen future date so that nobody can open it early — not the platform, not the storage provider, not even the author. This is guaranteed by construction, not by company policy. Everyone sells a promise; we sell mathematics that keeps it.

01

The opportunity

Every existing "letter to the future" is built on trust in an intermediary. Ordinary encryption answers "who can read this" — never "when". That category doesn't exist on the market yet.

$17–18B
TAM — adjacent markets where "guaranteed time" is already sold: digital legacy, notary-tech, escrow, wills. 2024–25, CAGR 13–15%.
Grand View Research, Dataintelo, Precedence Research
$2.0B
SAM — the share of those markets addressable by delayed-disclosure specifically, by company assumption.
internal estimate — validated by interviews, not yet by revenue
€0.5M
SOM, year 3 — bottom-up: ~25k capsules + 12 B2B accounts. Deliberately modest for a €250k pre-seed plan.
bottom-up model, ~0.04% of SAM
02

Why now

Timelock encryption became practical with the launch of drand quicknet (2023); pay-once permanent storage matured in parallel. Building this product became possible only within the last two years. The category is empty and the window is open.

03

Team

Carrot · Munich, Germany.

Aleksandr Perov
CEO

Product, protocol governance, fundraising.

Ilya Shalaev
Security

Crypto core, threat model, internal pentesting.

Den Dyachev
Engineering

TypeScript/Rust SDKs, web/desktop/CLI, cross-implementation CI.

04

Status — honestly

What's done, and what's a milestone target, not a current fact.

10 RFCs + 3 wire specs in public Last Call, closing 2026-08-10

Two independent implementations (TypeScript, Rust) — byte-identical containers enforced in CI

4 critical crypto tests green; internal penetration test and critical review completed (July 2026)

External security audit — planned before public launch, not yet started

Public launch with paid sealing and 2–3 B2B pilots — milestone target, not current state

05

The ask

€250,000 pre-seed

Convertible loan with SAFE economics (cap + discount), converting into equity at the next qualified financing. Indicative use of funds: team of 3 FTE on milestone-based compensation (~48%), external security audit (~12%), public launch (~10%), protocol publication (~4%), legal (~4%), downside reserve (~22%).

Milestones: independent audit report, public launch with paid sealing and 2–3 B2B pilots, protocol Last Call, operational break-even around month 16–17.

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