Israel CyVers, a Tel Aviv-based cybersecurity company, claimed to have raised $8 million as an initial investment to protect against fraudulent bitcoin purchases made before they were registered on the ledger.
The round, which was led by Elron Ventures, also included investments from Crescendo Venture Partners, Differential Ventures, HDI, Cyber Club London, and Cyber Future.
Israeli-founded businesses including Bit2C, Solidus Capital, and CoinMama are among those that use CyVers.
A decentralised economy and Web3 are both served by the next-generation AI-based security startup Cyvers, which provides real-time detection and prevention of crypto risks. Deddy Lavid and Meir Dolev, two seasoned businesspeople, formed it.
Cyvers detect and intercepts crypto-threats across blockchains to provide proactive Web3 security for centralized, decentralized, and smart contract apps.
The business’s agentless, plug-and-play solution gathers transactions between when a transaction is broadcast and when it is permanently logged to a blockchain ledger.
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