New investments in KZen, the startup of secure wallets

New investments on KZen, the startup of safe wallets. Round of financing for Israeli company begins.

New investments in KZen, the safe wallet startup - kzen1

The Israeli startup KZen Networks announced that it has raised more 4 million dollars in funding for the realization of a new and secure wallet for cryptocurrencies.

Although the market is clearly very crowded with digital wallets that allow investors and savers to buy and sell cryptocurrency, the founders of KZen seem to have no doubts, and say that there are no solutions that can give users deserved peace of mind. To confirm this, the evidence that, so far, hackers have already stolen about 1,1 billion dollars in encrypted currency in 2018.

To be able to use a crypto-value wallet you need a good dose of Xanax or a master's degree in computer science or both - they recalled from the startup - unless you want to depend on a central entity that, however, would distort the sense of the cryptocurrency ecosystem and, probably, would still expose to other risks.

Precisely because of this Israeli startups decided to accelerate towards a specific direction, something that - they still remember - for the world was something that did not seem like a pre-AOL experience, and that was incredibly superior in terms of safety, as well as simple to use. In short, a solution that would bring peace of mind and that would not force the user to compromise between convenience and safety as, unfortunately, happens in the current state of things.

Well, with these hopes, the company has focused on creating a new and solid user experience, with a new security paradigm and cutting-edge encryption. The goal was to find a new way to generate and manage private keys that could significantly reduce security breach problems and human errors.

To do this, the startup took into consideration the option of an initial offer of money (ICO) and quickly discarded it because it was deemed of little use. On the other hand, he found investors who agree with his approach and vision.

Leading the funding round was Benson Oak Ventures, while other participants included Elron, Samsung NEXT, FJ Labs, Collider VC and BlockNation. Investors intervened in angel finance instead include Jonathan Smith (co-founder of the block chain identity verification firm Civic), Pierre Kosciusko-Morizet, JeanDavid Blanc, and others.

With this funding, Robert Cohen of Benson Oak Ventures will also join the board of directors of Kzen, accompanying the founders Ouriel Ohayon, CEO and longtime entrepreneur, Gary Benattar, head of engineering, Omer Shlomovits, head of research and development , Tal Be'ery, researcher.