TechFlow news, on August 15, according to Coindesk, Chaos Labs, a New York-based crypto startup focused on on-chain risk management tools, recently raised $55 million in a Series A round led by Haun Ventures. The funding round also attracted participation from F-Prime Capital, Slow Ventures, Spartan Capital, Lightspeed Venture Partners, Galaxy Ventures, and PayPal Ventures.
The company plans to use the funds to expand its platform to meet the growing demand for automated risk management in decentralized finance (DeFi). Over the past year, Chaos Labs has tripled its customer base and has helped more than 20 protocols, including Aave, GMX, and Jupiter, achieve secure monitoring and growth of their products. Founder and CEO Omer Goldberg said that through tools such as dashboards, real-time data oracles, and risk alerts, Chaos Labs aims to automate certain risk management tasks, making DeFi platforms more agile in responding to market volatility and reducing human error.
