Mamori.xyz raises $5 million to revolutionize Web3 security and value creation

ML-powered blockchain intelligence startup aims to combat ‘unknown unknowns’ in smart contract vulnerabilities

NEW YORK, USA – Media OutReach Newswire – July 4, 2024 – Mamori.xyz, an automated blockchain value extraction system, has successfully raised $5 million in seed funding to advance its mission to revolutionize Web3 security and optimization. The round was led by Blockchain Capital, with participation from Velocity.Capital and Web3.com.

Well-known angel investors also participated in the seed financing round, including Grigore Rosu, Daniel Lubarov, Alex Watts, Bo Du, Shujia Liang, Micheal Heinrich, Richard Adjei and Antonio Viggiano.

Ryan Sproule, Investor at Blockchain Capitalsaid: “We are very excited to support Mamori.xyz in their vision of making smart contracts more secure using modern, advanced fuzzing techniques. By improving the developer toolkit, developers will be able to detect more vulnerabilities sooner and in a more scalable way.”

Disrupting Web3 Security with ML-Powered Blockchain Intelligence

Mamori.xyz is an automated value extraction system optimized for blockchain security and value extraction, colloquially referred to as an ML-enabled Pathfinder. Its technology addresses critical challenges in the Web3 space, where cyberattacks resulted in losses of over $2.4 billion in 2023 alone. Traditional auditing tools based on historical data have proven inadequate to meet the preventative security needs of this rapidly evolving industry.

Mamori.xyz improves Web3 security through an algorithm that addresses the biggest challenges and issues facing blockchain-based software. By leveraging ML-enabled value extraction systems to navigate and optimize blockchain ecosystems, covering zero-day exploit detection, MEV identification, and intent solving for transaction optimization, Mamori.xyz creates a comprehensive solution that protects against unknown vulnerabilities while maximizing blockchain efficiency and profitability.

Versatile, future-proof solution for safety and efficiency

Mamori.xyz addresses critical industry challenges by combining smart contract audits with value extraction capabilities. Its algorithm adapts to the situation to extract value from any blockchain-based software and identify vulnerabilities without requiring prior knowledge of exploit methods (unknown unknowns).

The solution redefines Web3 security by going beyond traditional auditing and using proactive, interdisciplinary technologies to mitigate threats and optimize value. Its adaptive architecture provides future-proof solutions for the evolving needs of the blockchain ecosystem.

Grigore Rosu, advisor to Mamori.xyz, professor of computer science at UIUC, founder of Runtime Verification and founder of Pi Squaredsaid: “I am very excited to witness Mamori.xyz’s mission to bring advanced ML-integrated fuzzing techniques to smart contract security. Their automated search and simple specification approach forms the perfect complement to formal verification. We are closer than ever to a future where smart contract developers get all of the following at their fingertips: Mamori.xyz’s tools help avoid programming errors while learning the contract specification, semantics-based formal verification tools prove that the program is correct with respect to the specification, then the proof of correctness is ZK-edited and published on-chain as a verifiable proof. Security audits programmatically verify, not trust.”

Andy M. Lee, Founder of Mamori.xyzsaid, “Mamori.xyz aims to address the critical area within the blockchain space where incidents caused by cyber attacks, technical and economic exploits, and vulnerabilities in smart contracts or logic have resulted in significant losses in the industry. We are honored to be supported by Blockchain Capital, Velocity Capital, Web3.com and other angel investors in our seed funding to help us advance our mission of creating a new standard in smart contract auditing and paving the way for mass adoption.”

With this funding, Mamori.xyz is ready to shake up the Web3 security landscape by offering a multi-layered, future-proof solution that addresses both security and efficiency issues in blockchain ecosystems. The system has reached the proof-of-concept stage and successfully tested the efficiency of the algorithm and the feasibility of integrating interdisciplinary intelligence based on swarm intelligence. It also demonstrated Mamori.xyz’s ability to identify existing limitations of security auditing techniques to protect against the “unknown unknowns.”

Hashtag: #Mamori

https://mamori.xyz/
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About Mamori.xyz

Mamori.xyz is an ML-enabled pathfinder for blockchain value extraction that can be applied to zero-day economic explosions, MEV search and intent resolution, addressing the challenges of scalability, automation, exploit detection relevance and effectiveness in the Web3 value extraction landscape. We apply interdisciplinary technologies and protect against the vulnerabilities of the “unknown unknown”. To achieve this, we leverage algorithmic parsing techniques to create smart contract sequences, use reproducible stateful computing techniques and integrate innovative and customizable algorithmic feedback mechanisms.

To stay updated with Mamori.xyz, follow them at x.com/mamori_xyz