Cube3.AI, a Palo Alto, California-based web3 transaction security platform provider, has emerged from stealth and raised $8.2 million in seed funding. The investment round was led by Blockchange Ventures (that backed NATIX and StoryCo), an investing firm focused on early-stage blockchain companies, protocols, and applications. Also, the round saw participation from Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures.
The company intends to use the funding for the development of its platform that enables smart contract deploys to deal with cyberattacks and vulnerabilities.
Commenting on the fundraise, the Cube3.AI team said, “Our platform closes a major web3 security gap. However, no single web3 security company or product offers a silver bullet. Each layer of the smart contract security stack plays an important role defending against hackers. Together, our community can empower builders, creators and innovators to advance web3 and help it reach its full potential,”
Web3 transaction security platform
Established by an American-Lithuanian entrepreneur Einaras Gravrock in 2022, Cube3.AI provides a platform featuring three products: Detect, Protect and Manage. With Detect, the company uses machine learning algorithms to continually observe and evaluate each transaction, smart contract, and wallet address. It assigns a Risk Score across three crucial categories – fraud, cyber threats, and compliance.
Cube3.AI’s Protect offers comprehensive safeguarding for web3 applications, leveraging cutting-edge Runtime Application Self-Protection technology. This innovation instantly blocks cyber exploits, fraud attempts, vulnerabilities, and compliance breaches that exceed a company’s predetermined risk threshold.
Its Manage feature empowers companies with proactive monitoring capabilities for addresses. It facilitates the establishment of alerts and provides access to detailed reports, analytics, and logs. These alerts can be seamlessly configured to transmit through various tools, including Discord, Slack, Telegram, and Zapier, supporting efficient communication and response.
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