Runtime Verification, a startup based in 2010 by Illinois CS professor Grigore Rosu, has raised $5.3 million in a funding spherical led by IOSG Ventures. The corporate, which is headquartered in Urbana, Illinois, makes use of runtime verification-based strategies, pioneered by Rosu, to conduct safety audits on digital machines and sensible contracts.
In line with Runtime Verification’s press release, funding got here from a spread of notable VC corporations together with Fenbushi Capital, Maven 11, Borderless Capital (Algorand), cFund (Cardano) managed by Wave Financial, Hypersphere (Polkadot), Elrond Research, and Tezos Foundation.
The corporate says that the brand new funding will speed up the event of instruments designed to boost the security, reliability, and correctness of computing methods for blockchain and embedded methods, in addition to to broaden Runtime Verification’s international presence.
“I wish to thank our buyers and companions for supporting and amplifying our mission,” mentioned Rosu. “Up to now, all our funding has been from grants and contracts somewhat than capital raises. This funding spherical is due to this fact a significant step for the corporate, one which can speed up our progress and influence within the blockchain area.”
Learn the complete Runtime Verification press release.