Quick take:
- Chaos Labs plans to use the capital to advance its platform designed for automated risk management.
- The fundraising also attracted participation from F-Prime Capital, Slow Ventures, Spartan Capital, Lightspeed Venture Partners, Galaxy Ventures and PayPal Ventures.
- Chaos Labs has already tapped the likes of Aave, GMX and Jupiter helping them to monitor and grow their products.
Chaos Labs, an on-chain automated risk management platform has raised $55 million in a Series A round led by Haun Ventures, the company said in a blog post.
The fundraising also attracted participation from F-Prime Capital, Slow Ventures, Spartan Capital, Lightspeed Venture Partners, Galaxy Ventures, PayPal Ventures, General Catalyst, Bessemer Venture Partners, and Coinbase Ventures.
Chaos Labs offers a suite of on-chain risk management tools including dashboards, real-time data oracles, and risk alerts. The company plans to use the fresh capital to expand its platform as the need for automated risk management tools grows.
The company has already tapped notable Web3 firms including Aave, GMX and Jupiter helping them to monitor and grow their products. Chaos Labs claims its technology has secured $860B in cumulative trading volume, $25B in loans, and $35M in incentives.
In February 2023, the Web3 security firm raised $20 million in a seed round led by Galaxy Venture Capital and PayPal Ventures.
The decentralised finance sector has been one of the fastest-growing segments of the crypto market as it continues to attract traditional finance companies, lured by the opportunity that real-world asset tokenisation presents in the broader financial sector.
However, the crypto industry overall continues to be plagued by risk, both systemic and transactional, which is why Web3 firms are making it a priority to automate risk monitoring and assessment systems.
Chaos Labs wants to play a key role in addressing these challenges and the Series A round will accelerate its plans for providing a more comprehensive suite of risk assessment tools.
“Today, all applications on DeFi on-chain are basically static and have stale parameter configuration,” Omer Goldberg, Founder and CEO at Chaos Labs wrote. “On average, it takes 72 to 96 hours from the moment that a risk manager detects that changes needed to be made until they’re actually propagated on-chain.”
Diogo Mónica, General Partner at Haun Ventures added: “As on-chain finance matures to compete with its centralized counterparts, the need for world-class risk management tools, designed from the ground up for the blockchain stack, is both clear and intuitive.”
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