London-based digital asset protection company Coincover has raised $30 million in a funding round led by Foundation Capital, with follow-on investment from CMT digital.
According to Coincover’s announcement, the funds will be used to scale operations, encourage recruitment, develop new products, and form partnerships to strengthen the security of the cryptocurrency ecosystem, thus providing more comprehensive protection for businesses and individuals holding digital assets.
Coincover was founded in 2018 and launched in 2019 with the aim of providing confidence to the digital asset industry. The company has worked with more than 300 businesses including exchanges, wallets, hedge funds, family offices, and banks, and directly with several digital asset custodians.
Coincover is determined to address the security issues plaguing the digital asset industry, by providing businesses with proactive solutions that protect against cyber threats and human error. By reducing fraud and fraudulent activity, Coincover aims to lay the foundation for a more mature and trustworthy sector. The company’s offering also promises to not only reduce the risk of moving and storing cryptocurrency but also change the perception of digital assets and increase confidence in the industry.
CEO and co-founder of Coincover, David Janczewski shared:
“At Coincover, we are proud to prevent users from losing access to cryptocurrencies, whether due to mistakes or accidents targeted by malicious online hackers… our future customers – building a better and more mature ecosystem of digital assets in the process.
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Despite the long bear market, the Web3 project continues to raise capital to build and innovate in the ecosystem.
On Jan 25, Cointelegraph reported that Injectif launched a $150M ecosystem fund to boost DeFi, Cosmos adoption. The ecosystem group is supported by a large consortium of venture capital and Web3 companies, including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, IDG Capital, Gate Labs and Flow Traders. According to Injectif, the consortium is the largest assembled in the wider Cosmos ecosystem.