UK – Asset Reality, a London, UK-based provider of an end-to-end solution for digital asset recovery, raised $4.91M in Seed funding.
The round was led by Framework Ventures, with participation from TechStars, The Fund, SGH Capital and Chris Adelsbach.The company intends to use the funds to triple its engineering team and expand its operations and growth management teams. Founded in April 2020 by a team of asset recovery practitioners and crypto investigators, Asset Reality provides services and tools to public and private sector companies investigating, managing and recovering digital assets, from helping crypto companies support victims of fraud, training practitioners, providing data & analytics, to enabling governments to manage and realize portfolios of seized assets. Already in use today by web3 giants Consensys for MetaMask users, in addition to several other government and law enforcement agencies, the platform is a destination for a variety of different services such as digital custodians, investigation services, asset management, and auditing systems.For the public sector, Asset Reality’s “ARMS” (Asset Recovery Management System) is a cloud solution that allows users to track and audit portfolios of seized assets. For the private sector, ARCS (Asset Recovery Customer Services) provides a victim support service desk for web3 and crypto companies, that assists their users from r the moment they discover theft or fraudulent activity. The platform facilitates a user’s fraud journey, supporting them from the beginning of an attack through the entire asset recovery process. Commenting on the deal, Aidan Larkin, Co-founder of Asset Reality, said: “The recent collapses of major consumer-facing institutions like FTX, BlockFi, Celsius, combined with devastating DeFi exploits and hacks, have cost users billions of dollars, and demonstrate a timely need for sophisticated digital asset recovery tools that public and private sector practitioners can easily use to support victims, recover and manage seized crypto assets.25/01/2023
