Tel Aviv, Israel-based first-ever blockchain-native cybersecurity platform, Ironblocks, raised USD 7 million in seed funding. The seed round took place on February 15, 2023. Collider Ventures and Disruptive AI led the financing for the company. ParaFi, Quantstamp, Samsung Next, Balaji Srinivasan, ex-CTO of Coinbase and former general partner at Andreessen Horowitz; Calvin Liu, chief strategy officer at Eigen Layer; Alan Leung, Simplex co-founder and ex-CEO Nimrod Lehavi; Fos Finance; venture investor Lluis Pedragosa; and others joined in the funding.
Purpose of funding for Ironblocks
With the latest capital injection, Ironblocks seeks to invest in the development activity and further expand the team across engineering, sales, marketing, and others.
In addition, the company intends to support a number of product launches and partnerships. These launches are yet to be announced.
What the company’s officials have to say
Ironblocks CEO Or Dadosh said, “We are thrilled to be on this journey with such a great group of partners as we set out to set a new standard for on-chain threat mitigation. We believe that smart contract security is a given right for all crypto traders and protocols, and we aim to ensure the safety of data and crypto assets in the best way to bring about the broad adoption in DeFi and Web3.”
What the investors have to add
Yorai Fainmesser, the general partner at Disruptive AI, further said, “Smart contracts, like other blockchain financial fundamentals, must have the right protection. It is critical for Institutional players and all ecosystem maturity. Ironblocks is harnessing artificial intelligence and years of deep native blockchain experience to disrupt the way on-chain products are done. We are excited to back the team in executing its vision.”
Besides, Adam Benayoun, managing partner at Collider, said, “Ironblocks is building a best-in-class solution to help bring an end to hacks, exploits, and thefts in DeFi and Web3. We are proud to be part of this effort and believe that this is going to be a game changer for many protocols that will enable them to further establish trust and credibility with their communities.”
About the company
In 2022, founders Or Dadosh and Assaf Eli launched the company. Ironblocks is a Tel Aviv, Israel-based company. The company is an end-to-end security provider for Web3 platforms, DeFi protocols, bridges, market makers, and other digital asset projects. Ironblocks automates proactive threat detection. It has plans to enable teams to instantly take preventative measures in milliseconds. The company is on a mission to protect decentralized finance and web3 from threats and thefts, creating the security needed to enable the broad adoption of these platforms.
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