Binance Labs Leads GoPlus Security Funding Round

Binance Labs, the accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term and the venture capital division of Binance, informed on Thursday that it has led the private round II for GoPlus Security, a Web3 security infrastructure provider. The value of the investment has not been disclosed.

According to the press release, GoPlus Security's solutions cover 13 major blockchains, offering multidimensional risk detection capabilities. It aims to broaden the Web3 environment security, focusing on tokens, NFTs, dApps and smart contracts.

Resources obtained through the private round II will allow GoPlus Security to develop its security data services and recruit industry professionals. In addition, the startup wants to launch a security marketplace. The service is scheduled to go live at the end of this year.

"Security is foundational to the ever-growing Web3 ecosystem and community. By supporting consumer-facing solutions like Goplus Security, we hope to see how security services to end users can evolve and prosper," Yi He, the Co-Founder of Binance and Head of Binance Labs, commented.

Binance LabsBuilds a Global Portfolio

The Binance Labs project started in 2018 and has provided funding to over 100 cryptocurrency projects to date. The venture capital arm of Binance has recently secured $500 million in investment funds from institutional investors, such as Whampoa Group, DTS Global Partners and Breyer Capital.

The incubator is actively using the funding raised to support more projects, especially in the Web3 industry. In September, it boosted its strategic investment in Aptos Labs, a technology-driven blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term firm focused on user security. In October, Binance Labs led the pre-seed funding round for Ancilla, Inc., an automated treat detection in the blockchain space solution.

The company's latest investment is NGRAVE, a secure hardware cryptocurrency wallet maker. NGRAVE ZERO is the only crypto wallet that has obtained the highest possible certification of security, EAL7.