[Funding alert] Blockchain startup CredShields raises $500K funds from BoostVC

Blockchain startup CredShields on Thursday said it raised $500,000 from BoostVC as part of its 2022 acceleration cohort. With the capital raised, the startup will use it to expand its team and enhance product growth and user acquisition.

Founded in November 2021 by Shashank and Indranil Roy, the blockchain startup offers next-generation security solutions for the Web3 ecosystem.

Shashank, CEO and Co-founder, CredShields, said, "We at CredShields firmly believe that security should not be an afterthought but rather something built-in and inherent to the business. To enable the same, we offer a wide range of products and services to all dimensions of Web3 security."

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The startup is also building a product called SolidityScan, a cloud-based smart contract security scanner, which aims to reduce vulnerabilities in SMART contracts and ensure secure coding practices.

With this, users can submit contract codes or provide code repository links and can track trends on how the code quality has improved over time based on the security score calculated after each scan.

Earlier this year, the startup had raised an undisclosed fund in an angel investment round led by Persistence, a crypto protocol powering institutional open finance.