Israeli blockchain and crypto startups flourish despite crisis
Despite the global hi-tech crisis and the countless hits the blockchain and cryptocurrency sectors have suffered over the past year, Israeli startups in this space have experienced a renaissance in recent months.
Five different startups, ranging from a semiconductor company focused on disruptive blockchain hardware to security and marketing offerings designed specifically for the needs of the blockchain and crypto world, have all raised money to help them scale to the next level.
With this in mind, CTech presents the Israeli startups in the blockchain and crypto sectors that have raised money in recent months:
Founders: CEO Alon Webman and CTO Oren Yokev
The new round brought the total funding to $115 million and will be used to expand the engineering and development teams, which have grown to 100 full-time employees.
Chain Reaction, which was founded in 2019 by CEO Alon Webman and CTO Oren Yokev, said the round will accelerate the deployment of enterprise-grade blockchain solutions – Application Specific Integrated Circuits (ASICs) and systems. It will also scale Chain Reaction’s privacy technology solutions involving cloud data center infrastructure design to accelerate privacy enhancing technologies (PETs).
5 See the gallery
Chaos Labs CEO Omer Goldberg.
(Photo: Lab’s Sophie Sahara)
Founders: CEO Omer Goldberg and CTO Yonatan Hayun
The company’s automated financial security system for crypto protocols uses state-of-the-art monitoring and simulations. Chaos Labs delivers protocols with customized and automated financial security tools that verify a protocol’s durability and stability in all market conditions.
In its first year of operation, Chaos Labs has partnered with major DeFi clients, including Aave, Chainlink, Uniswap, BENQI, and Osmosis, to secure and optimize protocols against manipulation and black swan market events, while offering capital optimization recommendations.
Founders: CEO Or Dadosh and CTO Assaf Eli
Ironblocks is developing a smart contract-based security solution that operates on-chain to automate threat detection and enable DeFi protocols, Web3 platforms, market makers and cross-chain bridges to take action to stop hackers in real-time to secure funds before they are funneled into the wallet their.
Last year, more than $3.9 billion was stolen from DeFi protocols by hackers, an increase of more than 50% from the previous year. According to Ironblocks, 80% of all exploit hacks are successful – something the company tries to prevent.
Founders: CEO Tomer Sharoni, CTO Tomer Shlomo, and Chief Scientist Asaf Nadler
Addressable’s SaaS solution provides Web3 marketing teams with a platform to launch campaigns and target new audiences by matching blockchain activity with social profiles. This type of targeting reduces the cost of acquisition compared to more traditional Web2 tools and is already used by Web3 companies such as Polygon, Bancor, Immutable and Kryptomon.
Founders: CEO Deddy Lavid and CTO & CPO Meir Dolev
The company’s agentless, plug-and-play solution captures transactions in the few moments from when a transaction is sent until it is irreversibly recorded on a blockchain ledger. CyVers clients include Israeli-founded companies Bit2C, Solidus Capital and CoinMama, among others.
