Japanese Web3 Security Firm KEKKAI Secures $1.5M Seed Funding and Launches New Products
KEKKAI, a Web3 security company in Japan, has successfully raised $1.5 million in a seed funding round with contributions from 14 investors, including prominent funds like the Decima Fund and Bixin Ventures. The company has also launched ’KEKKAI Mobile,’ a mobile browser app that enhances Web3 security for users. In response to the increasing security issues in the Web3 space marked by $3.8 billion in damages from cyber fraud and hacking in 2022, KEKKAI intends to use the fundings to develop its products further, expand its services, and bolster its staff across various departments. Its existing ’KEKKAI Plugin’ and the newly introduced ’KEKKAI Audit’ service will benefit from this financial boost, aiming to solidify the security framework within the Web3 ecosystem and maintain the company’s commitment to making Web3 safer for all.
Bullish
The successful seed funding round for KEKKAI indicates investor confidence in the Web3 sector, particularly in security-related solutions. Given the reported damages of $3.8 billion due to security breaches in Web3 in 2022, the introduction of KEKKAI’s new security products like ’KEKKAI Mobile’ and ’KEKKAI Audit’ may address a critical industry need, potentially leading to wider adoption of Web3 technologies. Moreover, the emphasis on creating a more secure ecosystem could attract more traditional investors to the space, possibly driving up the demand for blockchain-based solutions and fostering a bullish sentiment in the crypto market.