The Venture Codex

Led · Equity · Nov 2021

Iconicchain builds blockchain-based compliance automation solutions aimed at digitising and automating regulatory processes for financial institutions. Its product suite includes IconicSecurities, which automates the lifecycle of asset-backed securities while continuously evaluating and executing regulatory compliance and filing extracted data and valuations with authorities and investors. The company also offers IconicChainServer, a blockchain-based automation algorithm designed to set up and configure blockchain solutions for financial institutions quickly. Iconicchain says its technology can reduce regulatory compliance costs by 50%. Its offering is used by a number of German and Austrian banks, including Bank für Tirol und Vorarlberg, and the firm recently won a tender from the Hungarian National Bank. The company intends to use the €1 million in new funding to continue international expansion, specifically targeting the UK and German markets, and had previously raised only $65,000.

Participated · Series A · Oct 2020

BitNinja is a Debrecen, Hungary-based company founded in 2014 that offers a ServerProtection SaaS cybersecurity tool for hosted websites. The product protects more than 20,000 servers worldwide and defends against over 10 million attacks daily. The platform focuses on preventing infections for WordPress, Joomla and Drupal sites. The company raised $2.5M in a Series A round to improve the existing ServerProtection SaaS tool and develop new products. The round was led by Lead Ventures with participation from Hungarian investor Oxo Technologies Holding. BitNinja will use the funds to enhance its core SaaS offering and expand its product lineup.