Lockchain.ai, an Athens, GA-based provider of an AI-powered blockchain risk management platform, raised $4.6m in Seed funding.
The round was led by Lerer Hippeau with participation from Arrington Capital, Valhalla Ventures, ARCA, RSE/Vayner, Sonic Boom Ventures, Alex Weiss of Clear Sky Capital, and Artico Search. White Star Capital joined in a subsequent funding cycle.
The company intends to use the funds to expand operations and its development efforts.
Co-founded in 2023 by Aidan Kehoe and Andrew Howard, as well as Matt Higgins, Lockchain.ai provides a SaaS platform that provides due diligence and risk monitoring for asset managers and traders seeking real-time security status of the assets they trade. This includes the examination of custodians and counterparties involved with the portfolio to provide a comprehensive assessment of risks and help traders make informed decisions at scale. It also enables asset managers to reconcile on- and off-chain balances – a key compliance concern as Bitcoin ETFs come online.
Lockchain.ai’s end-to-end use of generative AI is fundamental to the platform’s ability to consume and analyze thousands of data sources to deliver:
- Real-time view of risk status;
- Instant notification of important on- and off-chain events that may impact their portfolio;
- Actionable and straightforward insights on potential effects of those events;
- Predictive impact analysis of contagion risk; and soon,
- An automation engine to respond to events with pre-built playbooks and exit strategies.
The company is headquartered in Athens, Georgia with offices in New York City. The company’s Board of Directors includes Steve Kokinos, former CEO of Algorand and Deneille Pemberton-Heard, Executive with the Diversified Search Group.
FinSMEs
06/04/2024
