New York-based company Chaos Labs, focused on blockchain security, has raised $55 million in a Series A funding round led by Haun Ventures.
Successful Funding Round
The funding round was led by Haun Ventures and included contributions from PayPal, Lightspeed, Galaxy Ventures, and Wintermute. New investors F-Prime Capital, Slow Ventures, and The Spartan Group also participated in the round.
Chaos Labs Services
Chaos Labs offers a cloud-based platform that helps DeFi protocols identify potential risks and strengthen their systems. Using advanced simulations, the company tests how well systems handle different scenarios and market conditions. Among the company’s clients are well-known DeFi protocols like Aave, GMX, and Jupiter.
Future Plans
Chaos Labs plans to use the new funding to develop more tools that offer real-time updates to DeFi platforms based on current market conditions. The company believes that improving these systems is crucial for DeFi to compete effectively with traditional finance.
This new round of funding follows a $20 million seed round in February 2023, led by PayPal and Galaxy Ventures.
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