Octane announced it has secured $6.75 million in a seed funding round co-led by Archetype and Winklevoss Capital. The funding round also included participation from Gemini, Circle, Legion Capital, Druid Ventures, Duke Capital Partners and strategic angels including Balaji Srinivasan, Sina Habibian, and others.
Octane is an AI-based cybersecurity company utilizing machine learning to identify and fix vulnerabilities in blockchain codebases. And with crypto hacks exceeding billions of dollars, the growing market cap has intensified the risk posed by flawed contracts, especially considering crypto’s low-friction financial rails that make fund extraction easier for attackers.
The company also continuously analyzes onchain smart contracts, equipping developers with AI-powered tools for proactive threat detection and one-click bug fixes. And this approach enhances developers’ ability to catch bugs before deployment and throughout the entire software development lifecycle, addressing a critical security gap in the industry. Octane will soon offer code analysis for offchain codebases as well.
Octane will utilize the funding to increase product development velocity, expand their team, mass label vulnerability data, and get their platform into the hands of every developer building in crypto.
KEY QUOTES:
“Flawed blockchain code enables billions in theft across crypto, with vulnerable smart contracts creating an ever-expanding attack surface as more value enters the ecosystem. Octane’s AI continuously scans codebases, empowering developers with proactive threat detection and one-click fixes throughout the entire development lifecycle—eliminating vulnerabilities before attackers can exploit them.”
– Giovanni Vignone, CEO, Octane
“Securing smart contracts on the blockchain is one of the biggest challenges facing any crypto developer. Octane allows devs to battle-test their smart contract code with AI-powered security testing before it hits production on the blockchain. This is huge for devs, companies, and mainstream crypto adoption.”
– Tyler Winklevoss
“The importance of making crypto applications more secure is obvious and Gio and his world-class team have built just the platform to meet this need and help crypto devs and crypto companies ship more secure code. We’re excited to back them on this journey.”
– Cameron Winklevoss
“We’re thrilled to back Gio and the team at Octane as they develop a powerful new method of mitigating hacks, crypto’s most critical vulnerability. By leveraging LLMs to identify attack surfaces before deployment, we believe Octane expands the crypto security purview beyond traditional audits and does so with a developer-first mentality. The Archetype team is ecstatic to lead Octane’s $6.75M Seed round and help evolve crypto security alongside the technology and asset class.”
– Ash Egan, General Partner at Archetype
