Blockchain security startup BlockSec has raised $8 million in a seed funding round co-led by Vitalbridge Capital and Matrix Partners, with participation from CoinSummer, Mirana Ventures, and YM Capital.
Founded in 2021, the China-based company aims to secure the blockchain infrastructure, to identify blockchain weaknesses, improve the security of decentralized applications, and prevent cyberattacks.
The company says it can secure the whole lifecycle of smart contracts, which are used to automate blockchain transactions, to mitigate risks associated with cyberattacks and human error.
Providing security audit services to organizations in the Solidity and Rust ecosystems, BlockSec offers solutions for the monitoring of flash loans and transactions, to detect money laundering attempts.
BlockSec, which claims to have already identified critical security issues in the Solana blockchain, intends to use the new funds to expand its research and production teams and to make its monitoring and attack prevention capabilities available to more decentralized applications.
Related: How a VC Chooses Which Cybersecurity Startups to Fund in Challenging Times
Related: Security Automation Firm Swimlane Closes $70 Million Funding Round
Related: Token Raises $13 Million for Its Biometric Authentication Ring
Related: Hadrian Raises $11 Million for Offensive Security Platform