Mamori, a blockchain startup, has successfully raised $5 million in a seed funding round led by Blockchain Capital. Other participants included Velocity Capital and Web3.com, as well as several angel investors such as Grigore Rosu, Daniel Lubarov, Alex Watts, Bo Du, Shujia Liang, Micheal Heinrich, and Antonio Viggiano. This funding represents the total amount raised by Mamori to date. The company is focused on enhancing web3 security through the development of an innovative algorithm designed to identify potential exploits in blockchain-based software without prior knowledge of existing exploits. This system utilizes machine learning to extract value and address vulnerabilities, including zero-day vulnerabilities and scalability issues. Mamori's approach also involves the use of semantics-based formal verification tools to ensure program correctness, which is then verified on-chain.

The blockchain startup Mamori raised $5 million in Blockchain Capital-led seed funding.Velocity Capital and Web3.com participated in the round, along with angel investors Grigore Rosu, Daniel Lubarov, Alex Watts, Bo Du, Shujia Liang, Micheal Heinrich and Antonio Viggiano, according to a release shared with The Block.The $5 million fundraise comprises the Mamori's total funding to date.Mamori aims to augment web3 security by developing an algorithm that can find issues in blockchain-based software. The software doesn't rely on past knowledge of how exploits worked; instead, it tries to find what exploits could occur by extracting value from the blockchain-based software.This type of approach is called a machine learning-enabled value extraction system. It can be applied to zero-day vulnerabilities or known problems that have yet to be patched, as well as issues related to scalability and automation."Mamori's tools help eliminate programming errors while learning the contract specification, semantics-based formal verification tools prove the program correct with regards to the specification, then the correctness proof is ZK-ed and posted on-chain as verifiable evidence," said Mamori Advisor Grigore Rosu in a statement.

Mamori Secures $5 Million in Blockchain Capital-Led Seed Funding to Enhance Web3 Security