Cybersecurity-focused Cyvers raises $8 million

Cybersecurity-focused startup Cyvers raised $8 million in a seed round led by Elron Ventures. According to The Block.

Among other investors are Crescendo Venture Partners, Differential Ventures and HDI.

Cyvers offers AI-powered security solutions. The startup’s clients include Bit2C, Solidus Capital and CoinMama.

“Our analytical engine forecasts the evolution of attacks by autonomously analyzing attacker behaviour. They include smart-contract exploits, private key leaks, instant loans and more,” explained Cyvers co-founder and chief technology officer Meir Dolev.

The startup was founded in February 2022 and is based in Israel. The funds will be allocated to research and development, as well as marketing.

In July, the cybersecurity-focused startup Halborn closed a Series A financing round in the amount of $90 million. The lead investor was Summit Partners with the participation of Castle Island Ventures, Digital Currency Group and the Brevan Howard hedge fund.

In November, losses from crypto project hacks totaled $391.6 million, according to PeckShield. Most of the sum came from the bankrupt FTX $340 million and the hack of the hot wallet Deribit $28 million.

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