True I/O, a blockchain security firm that provides solutions for securing data and communications on blockchain networks, announced that it has closed a $9 million Series A funding round.

SaaS Investors

The round was led by Deal Box Ventures, with participation from undisclosed investors.

Deal Box Ventures is a venture capital firm that invests in early-stage blockchain and Web3 companies. The firm was founded in 2022 by Thomas Carter, the founder and chairman of Deal Box, a capital markets advisory and token offering platform.

Deal Box Ventures seeks to invest in companies that are developing innovative blockchain and Web3 technologies that have the potential to disrupt traditional industries and create new markets.

True I/O Use of Series A Funds

The funding will be used to accelerate deployment of True I/O’s Universal Communication Identifier (UCID), a permissioned blockchain that can be used to identify and authenticate devices, users, and applications on a blockchain network. UCID is designed to address the growing need for secure and reliable identification and authentication solutions in the blockchain ecosystem.

About True I/O

True I/O is a blockchain security firm that provides solutions for securing data and communications on blockchain networks. The company's flagship product is UCID, a permissioned blockchain that can be used to identify and authenticate devices, users, and applications on a blockchain network.

Series A Funding Details

Company Name: True I/O

Raised: $9 million

Round: Series A

Funding Month: March, 2023

Lead Investors: Deal Box Ventures

Additional Investors: Not disclosed

Company Website: https://trueio.io/

Software Category: Blockchain security

About the Company: True I/O is a blockchain security firm that provides solutions for securing data and communications on blockchain networks. The company's flagship product is UCID, a permissioned blockchain that can be used to identify and authenticate devices, users, and applications on a blockchain network.

Source: https://www.securityweek.com/blockchain-security-firm-true-i-o-raises-9-million/