We are thrilled to announce that Almanax, founded by engineers from Coinbase, Ripple, and AnChain.AI, has successfully raised an additional $1 million to advance our vision of building an AI Security Engineer. This investment builds on the momentum of our recent funding round led by defy.vc, further solidifying our position as a leader in the field. This funding round brings onboard a distinguished group of investors, including Blockchain Builders Fund, Exor Ventures, Vento Ventures, Italian Angels for Growth (IAG), Eden Ventures by IAG, Moonbase, and several strategic angels. Almanax has closed $1.5 million to date and hired key talents from firms like Fireblocks, Circle, Mastercard, and institutions like MIT.
Breaking New Ground with ALMX-1, Our First AI Model
The first iteration of our flagship AI model, ALMX-1, has set new benchmarks in smart contract vulnerability detection. Achieving state-of-the-art (SOTA) results, ALMX-1 is now the most powerful AI model for detecting vulnerabilities in blockchain code, out-performing the best commercial AI models in the market. It has demonstrated its value in real-world scenarios, including identifying a vulnerability in one of Vitalik Buterin's smart contracts—a remarkable achievement given his stature as one of the leading voices and engineers in blockchain. This discovery underscores the unique capabilities of our AI model and its potential to address the most demanding challenges in web3 security.ALMX-1 is available in the Almanax’s product, which has already been supporting developers in the Base, Solana, Ethereum, and Stellar ecosystems, catching vulnerabilities before they could be exploited by hackers onchain.
The Rise of Crypto AI Agents
The last few months have seen a rapid surge of crypto AI agents, with some tokens reaching billions of dollars in market cap. In this evolving landscape, Almanax distinguishes itself by focusing on the critical area of code security. While many AI agents in Web3 are designed for tasks such as automating transactions, operating semi-autonomously on social media, or deploying new tokens onchain, Almanax's AI agents are specifically developed to identify and fix vulnerabilities in blockchain code. This specialization addresses a significant need in the industry, as security breaches have led to substantial financial losses in recent years.
Strengthening the Ecosystem
This funding will also fuel the expansion of our team and the continued development of the Web3 Security Atlas, an open-source initiative launched in collaboration with TRM Labs, AnChain.AI, Hypernative, and supported by the Stellar Development Foundation. The project has already garnered significant attention as a reference point for web3 security researchers, fostering collaboration and innovation across the ecosystem.
Investor Support
Our new investors bring both capital and strategic expertise to Almanax. Blockchain Builders Fund’s strong connections to Stanford University and the blockchain ecosystem, coupled with Exor Ventures’ proven track record in fostering innovative tech startups, reinforce their confidence in our mission.
As noted by Steven Willinger, General Partner at Blockchain Builders Fund and former lead of Coinbase Ventures, “Almanax is solving one of the most critical challenges in web3 with precision and innovation—we’re excited to support their journey.”
Emanuele Torlonia, Managing Director IAG and Managing Partner Eden Ventures by IAG commented, “The combination of cutting-edge AI and the team’s deep understanding of blockchain security positions Almanax as a key player in the space.” These partnerships underscore the importance of our work in addressing the pressing challenges of web3 security.
Our first lead institutional investor, defy.vc’s Brian Rothenberg, commented, “Flawed code remains one of the biggest threats to both web2 and web3 exploits — we remain extremely bullish on Almanax’s AI-driven approach to solving this critical problem and are excited to continue supporting them.”
Building the Future of Web3 Security
As we continue to grow, we remain dedicated to our mission of extinguishing software bugs that lead to hacks. This additional funding enables us to accelerate the development of our AI Software Engineer and expand our team by bringing in top talent to advance our technologies further.
We are grateful for the support of our investors and collaborators and look forward to sharing more updates, including the imminent release of ALMX-2. Together, we are building a safer and more resilient blockchain ecosystem.
We’re running a beta with some of the top security experts in the world, contact us here to get access.