BlockSec, a blockchain security startup, has bagged $8m in a seed funding round co-led by Vitalbridge Capital and Matrix Partners.
The round also saw participation from CoinSummer, YM Capital and Mirana Ventures.
Established in 2021, BlockSec is focused on securing the blockchain infrastructure, to identify blockchain weaknesses, prevent cyberattacks and improve the security of decentralised applications.
The firm claims it can secure the whole lifecycle of smart contracts, which are used to automate blockchain transactions and to mitigate risks associated with cyberattacks and human error.
Security Week remarked that BlockSec offers solutions for the monitoring of flash loans and transactions, to detect money laundering attempts.
The company intends to use the newly raised capital for expanding its research and production teams and to make its monitoring and attack prevention capabilities available to more decentralised applications.
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