The startup Solidus Labs, which specialises in monitoring market manipulation in the crypto industry, has secured $15 million in strategic financing.
Solidus Labs is thrilled to announce it has completed a strategic funding raise of $15M only six months after a successful $20M Series A round!
Read more on the raise, investors and how this capital will be deployed to achieve our vision: https://t.co/i4Zq7cnWXM
— Solidus Labs (@Solidus_Labs) November 5, 2021
The round was led by venture firm Liberty City Ventures with participation from GSR and Exor Seeds.
Chief operating officer Chen Arad told The Block that the funds raised will be used to expand the team and support risk-monitoring tools in the crypto markets, particularly in the decentralised finance and non-fungible token sectors.
Former Goldman Sachs bankers founded Solidus Labs in 2018. They believe that the lack of proper controls and risk-reduction tools are the main barriers to mainstream adoption of cryptocurrencies.
The total funding raised by the startup has reached around $40 million.
In May 2021, Solidus Labs closed a $20 million Series A financing round with backing from FTX, NYDIG and other investors.
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