DigiMax backs crypto management solutions provider Kirobo with $5M investment
DigiMax, a provider of artificial intelligence (AI) and cryptocurrency technology solutions, today announced a strategic USD $5 million investment in Kirobo, a cryptocurrency solutions developer.
The investment will help Kirobo expedite the release of its wealth management and crypto transaction security products; which are set to be integrated into DigiMax’s AI system over the course of this year.
Tel Aviv-based Kirobo is a blockchain technology company that provides tools to crypto users and companies, helping them gain better control of their funds. Kirobo offers a straightforward and user-friendly interface that makes crypto management as simple and secure as online banking.
DigiMax and Kirobo have also announced crypto pioneer Brock Pierce has joined the Advisory Boards of both companies where he will be providing guidance around the launch of Kirobo’s portfolio of products. Pierce has established himself as a crypto thought leader, having co-founded EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin. Pierce currently serves as Chairman of the Bitcoin Foundation.
The $5 million strategic investment by DigiMax includes an agreement to explore the integration of DigiMax’s AI technology into Kirobo’s solutions. The companies will also engage in marketing collaboration and the reselling of each other’s products to crypto exchanges.
Kirobo’s first product is a cryptocurrency transfer technology that allows users to “undo” or reverse a crypto transfer sent in error — eliminates the myriad of human error risks inherent to the execution of crypto transactions.
A loss of money can occur when a transaction is sent to the wrong address, or when it is sent to an address that does not support the receiving of the transaction, such as trying to send directly to a smart contract address. This is exactly the problem that DeFi is trying to address – and Kirobo has the solution.
Moreover, the Kirobo team has also developed a range of additional bespoke solutions tailored to crypto holders and merchants, which are set for release over the course of Q2 and Q3. The company is in discussions with several crypto exchanges regarding the integration of its solutions for later in 2021.
The company’s logic layer functions by providing a unique transaction code that must be entered by the recipient in order to receive funds from the sender. Until the recipient has entered the correct code, the sender may retrieve the funds at any time. Kirobo is currently helping large-scale intermediaries, crypto exchanges and payments companies offer their users unprecedented levels of transaction security.
“The DigiMax investment will help us expedite the launch of new industry-leading solutions designed to help crypto participants, current and prospective, to navigate transactions with a greater sense of confidence and clarity. By removing the fear from crypto transactions, Kirobo will boost wider adoption levels as the enabler of risk-free crypto transactions. In the coming months, we look forward to exploring the integration of DigiMax’s AI technology into our solutions while announcing some very exciting product launches.”
– Asaf Naim, Kirobo CEO
Elements of Kirobo’s new, soon to be revealed, solutions have helped the company yield two highly revered grants from the Israel Innovation Authority.