Tel Aviv-based Kirobo, which is developing decentralized technology solutions, has received a $5 million strategic investment from DigiCrypts Blockchain Solutions (DigiMax), a provider of Artificial Intelligence and crypto technology solutions.
According to the press release shared with Finance Magnates, the investment will help Kirobo to launch wealth management and crypto transaction products, which will be integrated into DigiMax’s offerings.
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“Today’s announcement represents a firm seal of approval in Kirobo’s service offering from a highly renowned technology solutions provider,” said, Kirobo CEO, Asaf Naim. “The DigiMax investment will help us expedite the launch of new industry-leading solutions designed to help crypto participants, current and prospective, to navigate transactions with a greater sense of confidence and clarity.”
Kirobo is specifically working on bringing centralized features to decentralized transactions. The startup already developed a solution that allows the cancellation of a transaction, if sent to the wrong address. Furthermore, its solutions enable password protection of blockchain transactions.
Founded in 2018, the startup is in talks with multiple cryptocurrency exchanges to integrate its solutions.
“By removing the fear from crypto transactions, Kirobo will boost wider adoption levels as the enabler of risk-free crypto transactions,” Naim added.
“To enable the wider crypto space to achieve mainstream adoption, the substantial risk of human error, and machine coding error inadvertently creating massive losses on transactions must be addressed,” Chris Carl, DigiMax CEO, said.
Crypto Pioneer Joined the Team
In addition to the funding, well-known crypto pioneer, Brock Pierce, who co-founded EOS Alliance, Block.one, Blockchain Capital, Tether and Mastercoin, joined the advisory board of both DigiMax and Kirobo.
“I am excited to be joining the advisory boards of both DigiMax and Kirobo, and I am looking forward to helping Kirobo introduce its unique and disruptive technology to the market,” Pierce said.