The $55 million Series A funding round for New York-based crypto business Chaos Labs is now over. The round was led by Haun Ventures. The money is for managing risks on the blockchain. Chaos Labs hopes that this large amount of money will help its platform grow so that it can meet the growing need for automatic risk management in decentralized finance (DeFi).
Prime Capital, Slow Ventures, Spartan Capital, Lightspeed Venture Partners, Galaxy Ventures, and PayPal Ventures are some of the well-known investors who joined Haun Ventures in this round. Angel investors like Francesco Agosti from Phantom and Anatoly Yakovenko from Solana also helped raise money.
Chaos Labs was started in 2021 and has come a long way since then. In the past year, it has tripled its customer base. The platform can now handle more than 20 DeFi protocols, such as the well-known Aave, GMX, and Jupiter. The company makes tools to protect, track, and improve these processes. They use real-time data to control risks and quickly adjust to changes in the market.
It has never been more important for DeFi to have strong risk management. Because of the popularity of autonomous platforms, the industry faces problems like traditional finance, like unstable markets and the need to keep important factors like security requirements and liquidation ratios up to date on a regular basis. On these autonomous platforms, however, risk management tasks are often handled by companies or people by hand, which causes delays and mistakes.
Chaos Labs is setting itself up to be a key part of the answers to these problems. The new company provides a group of tools, such as real-time data oracles, risk alerts, and automatic dashboards, that are meant to make DeFi systems more adaptable to changes in the market and less likely to make mistakes.
Chaos Labs’ founder and CEO, Omer Goldberg, talked about how static current DeFi apps are, saying that many platforms use old settings that can take days to change. Chaos Labs’ goal is to make the DeFi ecosystem more flexible and strong by offering current, real-time data infrastructure.
With this new funding, Chaos Labs wants to speed up the development of its platform and keep working to make DeFi as safe and effective as centralized networks. The company’s work is part of a bigger plan to give decentralized apps the tools they need to do well in a market that is unstable and changing quickly.
