Irionblocks Or Dadosh and Assaf Eli (company pic)
Ironblocks, an Israeli startup that boasts the first-ever blockchain-native cybersecurity platform, raised $7 million dollars in seed funding co-led by Collider Ventures and Disruptive AI. And Finq, an Israeli fintech startup, raised $6 million from the Israeli founder of the cybersecurity firm Palo Alto Networks Nir Zuk.
Founded in 2022 by CEO Or Dadosh and CTO Assaf Eli, Ironblocks is n, end-to-end security provider for Web3 platforms, DeFi protocols, bridges, market makers, and other digital asset projects. By using a smart contract-based solution, Ironblocks automates threat detection and protection, enabling preventative measures to be taken in milliseconds. Ironblocks is based in Tel Aviv, with founders that previously served in the Israeli Defense Force OPSEC Intelligence Unit and as engineers for firms including Bancor, eToro, and elsewhere.
Last year, says ironBlocks, saw a record amount of money stolen from DeFi protocols by hackers, more than $3.9 billion, according to research from Web3 bug bounty platform Immunefi, a more than 56 percent increase over the previous year. Additionally, according to the report, more than 80 percent of all exploit hacks resulted in the successful theft of funds. Ironblocks is set to prevent this kind of malicious activity.
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“We are thrilled to be on this journey with such a great group of partners as we set out to set a new standard for on-chain threat mitigation,” said Ironblocks CEO Or Dadosh. “We believe that smart contract security is a given right for all crypto traders and protocols, and we aim to ensure the safety of data and crypto assets in the best way to bring about the broad adoption in DeFi and Web3.”
Founded in 2017 by Eldad Tamir, who founded Israeli investment house Tamir Fishman, Finq boasts that the firm takes the “best of breed financial advisory model” known as the “Family Office” model to a digital platform for all. They utilize technology, psychology, and behavioral economics to create a “deep personalized match for the user’s financial needs” and automatically analyze financial products from all over the world in a new way in order to create a specific match for the users’ needs.
