Ancilia, Inc., founded to provide automated and real-time blockchain threat detection and prevention software-as-a-service products, recently announced that they were holding a pre-seed tour. Binance Labs, the accelerator and venture capital arm of the Binance exchange, led Ancilia, Inc’s pre-Seed round.
Founded in 2022, Ancilia’s platform provides 24/7 service just like any crypto exchange. It also uses a real-time threat detection engine that collects both on-chain and off-chain data to provide detailed analysis. Ancilla, Inc uses decoders to automatically monitor the platform in question and generate useful signals.
Yi He, Co-Founder of Binance and Head of Binance Labs, said: “We are still in the early years of the Web3 industry. To facilitate wider adoption of Web3 technology, prioritizing security and user protection are paramount. At Binance Labs, we are on the continued lookout for projects that offer innovative security solutions. The founders of these projects understand the importance of building a safe and sustainable ecosystem for users, and we are ready to support them.”
Huagang Xie, CEO/Co-Founder of Ancilia, Inc. and former SVP at Palo Alto Networks, said: “At Ancilia, we believe in a future where there is a secure Web3 world for everyone to participate in. It is our mission to protect such a world by building the most effective and easy-to-adopt security solutions. We are very pleased to have Binance Labs as our investor and strategic partner to support us achieve our goal and mission.”
Ancilia’s team consists of former top executives from Palo Alto Networks, the Department of Energy, the Department of Defense, McAfee and other industry giants. With this fund, the company will strengthen its existing team and use it to expand the scope of use of its platform within the Web3 ecosystem. In addition, it will also allocate a budget to accelerate the development of the platform. The basic services of the Ancilla project include, but are not limited to, the following services:
- Hacking prevention
- Detecting malicious and abnormal activities
- Fraud detection and prevention
- Smart contract audit and analysis
Nicola W. from the investment team of Binance Labs commented: “Ancilia, Inc. provides full lifecycle protection of smart contracts using multiple detection toolkits and logic. Its comprehensive decoder system, machine learning-based detection capacity, and cross-chain correlation technology can dynamically prevent a hack before/when it happens. The team has launched its beta product with full usability and high accuracy rate. We look forward to working with Ancilla to address the many pain points faced by the Web3 security ecosystem.”
About Binance Labs
Binance Labs was founded in 2018 and has invested and supported more than 200 blockchain projects in more than 25 countries since its foundation day. Binance Labs has incubated approximately 50 Web3-specific target projects within the Incubation Program.
Ancilia, Inc., is a Web3 cybersecurity company founded in 2022 by individuals with security industry experience who have worked at Palo Alto Networks, the Department of Energy, the Department of Defense, McAfee and more.
Ancilia offers real-time threat detection and prevention software as a service product. Its mission is to provide a secure Web3 world by providing the most effective and easy-to-adopt security solutions.