Immunefi raises $24 million in investment round

  • ECO News
  • 22 September 2022

The Lisbon-based startup aims to make the cryptocurrency industry safer from hackers.

Immunefi, a Lisbon-based startup that rewards programmers who detect security flaws in digital contracts in finance, has raised $24 million in a Series A investment round led by Framework Ventures.

“Crypto projects realised it’s better to use Immunefi than to beg hackers to return funds or pay a ransom. We are using this funding to increase our team to meet this huge demand,” highlights Mitchel Amador, founder of the startup, born in December 2020 in Singapore and with an office in Lisbon.

Since its beginning, the bug bounty solution for Web3 has saved more than $25 billion in user funds locked up in smart contracts.

This operation was the second investment round raised by Immunefi in less than a year. In October 2021, the startup raised $5.5 million.