Cube3.ai Raises $8.2 Million in Seed Funding Round for Web3 Security

Cube3.ai Raises $8.2 Million in Seed Funding to Bolster Web3 Security

The web3 security startup Cube3.ai has successfully raised $8.2 million in a seed funding round led by Blockchange Ventures. Other participants in the funding round included Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures. Cube3 plans to utilize these funds to scale its platform and enhance web3 safety. Additionally, the company aims to educate the community about transaction security risks and their exploitation.

Main Key Points:

Cube3.ai secured $8.2 million in a seed funding round led by Blockchange Ventures.
Other participants in the funding round included Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures.
The funds will be used to scale the platform and improve existing products.
Cube3.ai aims to educate the community about transaction security risks and their exploitation.
The startup utilizes machine learning algorithms to detect and prevent malicious transactions on Ethereum, BNB Smart Chain, Arbitrum, Polygon, and soon, Avalanche.

Cube3.ai employs machine learning algorithms to monitor blockchain-based transactions in real-time. By using this technology, the company can detect malicious transactions and deploy smart contracts to prevent them from being executed. The startup currently safeguards transactions on Ethereum, BNB Smart Chain, Arbitrum, and Polygon, with plans to expand to Avalanche later this month.

According to Cube3.ai’s founder and CEO, Einaras Gravrock, recent incidents such as the exploit on Curve Finance highlight the critical need for real-time detection and protection for deployed contracts and protocols. Gravrock emphasizes the importance of continually refining and enhancing their machine learning algorithms to stay ahead of evolving threats in web3 security.

Hot Take:

Cube3.ai’s successful seed funding round and commitment to enhancing web3 security through machine learning algorithms demonstrate their dedication to protecting the crypto community. By utilizing real-time detection and prevention measures, Cube3.ai aims to mitigate transaction security risks and safeguard the integrity of blockchain-based transactions. As the crypto industry continues to grow, Cube3.ai’s efforts to stay ahead of evolving threats will be crucial in maintaining a secure and trustworthy web3 ecosystem.