Crypto Custody Firm Cybavo Completes $4 Million Funding Round To Consolidate Global Expansion

Aug 11, 2021•about 4 years ago

Amount Raised

$4 Million

Round Type

seed

Description

Singapore-based blockchain security solution provider CYBAVO announces that it has raised $4 million USD in its Pre-A funding round, completed in June. The round was co-led by global venture capital firm 500 Startups, Taiwan’s H&D Asset Management Company and New Economy Ventures. Other companies and investors from Taiwan, Silicon Valley, Singapore, Hong Kong and Japan also participated in the round.

Company Information

Company

Cybavo

About

CYBAVO was established in 2018 by a team of cybersecurity veterans with backgrounds in blockchain security, cryptography, computer security, malware analysis and web security. Its mission is to provide the most advanced digital asset custody by developing a custom security-hardened operating system, patented encryption technology, and a highly secure sandboxed environment to deliver its suite of solutions, including its flagship product, the CYBAVO VAULT. CYBAVO VAULT is an institutional-grade cryptocurrency wallet that leverages proprietary NIST-certified cryptographic algorithms. It offers a SaaS or on-premise solution that features a unique multi-level approach to transaction authorization, which allows for the creation of any number of purpose-specific wallets, each governed by its own policies. This creates the potential to require increasing levels of approval from the lowest level all the way to the CFO - depending on transaction size, destination address or other criteria.