On October 17, a blockchain startup & cybersecurity boutique, Hexens has announced the closure of a $4.2 million seed round led by IOSG Ventures, a leading Web3 Venture Capital. 

Hash Capital, ChapterOne VC, Delta Blockchain Fund, Tenzor Capital, ImToken Ventures, and angels from Polygon and other blockchain projects participated in the seed round. Since its establishment in 2021, Hexens has had recognition and an impressive track record in the industry, Mudit Gupta, CISO of Polygon Technology- the most significant EVM Ecosystem, joined the organization advisory board subsequent to finishing simply a solitary collaboration emphasis. 

The Hexens way to dealing with security is on its way to scale: joining bold ideas with a broad Web3 market vision, the first products from the organization will be accessible to customers in late 2023.  “Blockchain is one of the fastest growing fields and, as many believe, the future of money. Fast growth brings huge cybersecurity risks, and as we see it now, the technology faces the risk of not achieving mass adoption if we do not address the rising threats of cybercrime appropriately.” Sipan Vardanyan, the CEO of Hexens, said in a statement. 

According to Queenie, the partner at IOSG Ventures, the loss of $2B in crypto hacks only in 2022 shows the significance of thorough cybersecurity practices and the high demand for first-class cybersecurity services. To make Web 3.0 a safer place IOSG Ventures is equally excited to partner with the stellar Hexens team on the mission. Besides, products being worked by Hexens can possibly turn into a toolkit toolbox for every developer and security researcher in the blockchain space.