Daily Markup

Daily Markup #567: Merkle Science secures US$19M to filter out creeps in crypto with proprietary blockchain technology

August 16, 2022 · 2 min read
Credit: DealStreetAsia

Filtering out creeps in crypto

  • Cryptocurrency may seem like risky business, but innovative companies are offering new ways to protect and minimize what investors put on the line.
  • One of them is 500-backed startup Merkle Science. Founded in 2018, the company aims to help crypto companies, financial institutions, and government entities detect, investigate, and prevent illegal activities involving cryptocurrencies.
  • Merkle Science just raised a US$19M Series A, bringing the total raised so far to over US$24M.
  • Their proprietary blockchain technology goes beyond vetting through blacklists — they even detect illicit activity from incoming and outgoing cryptocurrency transactions!
  • The tool also helps regulators understand the risks across all types of crypto businesses, stay on top of emerging technologies, and keep pace with the industry’s increasingly complex illicit activities.
  • Co-Founder & CTO Nirmal Aryath Koroth said, “We are planning to extend the capabilities of our compliance-first predictive crypto risk and intelligence platform to support clients in the DeFi and NFT sectors by de-risking liquidity pools, monitoring smart contract calls, and extending support to a huge range of NFT tokens and collections. We will also be focusing on automating cross-chain analytics enabling our customers to conduct investigations seamlessly across multiple blockchains and more.”
  • The fresh funds will be used to accelerate the company’s global growth, invest in R&D, and extend the capabilities of their unique predictive crypto risk and intelligence platform.
  • Read the full story on DealStreetAsia.
Daily
Tags:
0
Share
• • • KEEP READING

Daily Markup

  • Daily Markup is brought to you by 500 Southeast Asia & 500 Global

  • This website is updated as of August 3, 2022. All content herein is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed

    All users of this website should note these important Terms of Use governing the use of this website.

  • Copyright © 2022 500 Global | All Rights Reserved

  • Privacy Policy
    Terms of Use
    Code of Conduct