Blockchange Ventures spearheaded the fundraising, joined by Dispersion Capital, Symbolic Capital, Hypersphere Ventures, Iclub, and TA Ventures.
Cube3.ai, an assertive pioneer in cryptocurrency-focused security, stands at the forefront of safeguarding smart contracts against malevolent transactions. Emerging from stealth mode, the company has remarkably secured an impressive $8.2 million in seed funding.
This notable seed round boasts Blockchange Ventures as the lead investor, accompanied by the esteemed contributions of Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures.
The consistent onslaught of attacks targeting public blockchain-based systems and decentralized finance (DeFi) has unfairly earned this innovative sector a reputation as a favored playground for hackers and cyber criminals. In this landscape, the allure of financial gain for malicious actors often far outweighs that found in the current Web2 domain.
In the face of this challenging scenario, Cube3.ai’s founder and CEO, Einaras Gravrock, a seasoned architect of Web2 security platforms, resolved to transcend conventional strategies such as manual code audits and post-attack alerts. His vision led to the creation of a groundbreaking system that conducts real-time evaluations of crypto transactions.
Leveraging cutting-edge machine learning and intricate pattern matching, Cube3.ai assigns risk scores to newly deployed smart contracts. A key insight is that criminals perpetually deploy fresh contracts through new wallets, swiftly proposing nefarious transactions against target contracts. This urgency demands a rapid assessment of new contracts to uncover any malicious intent.
Einaras Gravrock explains, “Our mission is to empower decentralized applications and smart contracts to not only recognize vulnerabilities but also proactively reject exploits as they are attempted. This approach enables contracts and applications to seamlessly process legitimate transactions, akin to having a vigilant guardian angel overseeing your contract.”
In summation, Cube3.ai stands as a robust solution against the rising tide of cyber threats in the cryptocurrency realm, fostering an environment where innovation thrives securely.