Armenian blockchain security startup Hexens secured $4.2 M in seed funding led by IOSG Ventures. Companies including ChapterOne VC, Delta Blockchain Fund, Polygon, and others also took part in the round.
Related: October’s Been the Biggest Month in Crypto Hacks
Since Hexens was founded in 2021, our team has had an impressive track record and recognition in the industry, and now raised $4.2 million in #seedfunding from market leaders.— hexens (@hexensio) October 20, 2022
Hexens was founded in 2021 with the aim to protect assets and data from any kind of threats. The company tweeted it is planning to use the funds to increase its cyber security service coverage and develop products that can become a standard toolset for developers and security researchers in the industry.
Hexens co-founder and Chief Executive Officer Sipan Vardanyan says blockchain is one of the rapidly evolving industries and many believe it's the future of money. He mentions that fast growth presents security risks. Vardanyan added the tech faces the risk of not achieving mass adoption if we don't solve cybercrime threats in a proper way.