Israeli blockchain security startup Redefine has scored $11m in seed funding capital.
The round was led by Ribbit Capital and saw participation from Jump Capital, ParaFi Capital, Accomplice Blockchain and More VC. The company has a valuation of $50m after the seed round.
Established in 2021, Redefine is a decentralised finance security startup that offers an advanced end-to-end risk assessment and mitigation solution for DeFi investors. The solution includes an automated due diligence service, real-time portfolio risk monitoring and active risk mitigation.
To date, Redefine has already secured a range of high-profile partners across the digital asset space, such as companies like Celsius Network and Fireblocks. The firm currently employs 14 people.
According to Redefine, it intends to use the newly raised capital to recruit top talent for its offices in Israel and the US as well as investing in further research and development efforts and building out its product.
Copyright © 2022 FinTech Global