Olympix, a startup that aims to bring scalable security to Web3, has recently closed a $4.3 million seed funding round led by Boldstart Ventures. Other participants included Robot Ventures and Shrug Capital. This investment is part of a growing trend of venture capitalists backing artificial intelligence-backed crypto companies.
Founded in June 2022, Olympix provides security tools to developers to help minimize the risks of smart contract vulnerabilities. The company utilizes AI to scan code as it is being typed, making security suggestions that can be solved with one click. Olympix founder Channi Greenwall previously led a product team at SecurityScorecard and served as a security engineer on JPMorgan’s cyber defense team.
Out of the many wins Olympix has had over the past year, I’m most proud of the results of our static analyzer private alpha, said Greenwall. With 30+ companies participating, including Blockdaemon, Rysk Finance, and Arrakis Finance, we’ve become a trusted part of the developer workflow not just to find and fix vulnerabilities, but help the developer become more sophisticated through real-time micro-teaching moments. Most notably, our private alpha has helped developers secure over $300 million in assets since its launch.