Web3 startup ZYBER 365 has raised $100 million in Series A round of its funding spearheaded by UK-based SRAM & MRAM Group, Valuing the startup at $1.2 billion, and earning a tag of a unicorn company, said multiple media outlets report.
Founded in May 2023 by Pearl Kapur and Sunny Vaghela, ZYBER 365 is headquartered in London with an operational base in India. With this freshly raised funds, the startup has become India's and Asia's fastest unicorn tagged startup in mere 3 months of duration, suggest media reports.
Zyber 365 offers a decentralized and cyber-secured operating system powered with blockchain technology that merges cybersecurity and AI capabilities, establishing a secure base for applications.
According to the ZYBER 365 website, the young startup is also introducing a diverse and innovative range of multiple Web3 products like Layer-0, Layer-1 and Layer-2 blockchains, decentralised identities, data analytics, software development kit, web browser, NFT marketplace and ICO (Initial Coin Offering) which can be collectively leveraged as a complete Web3 ecosystem or as a standalone application specified to user requirement.
According to the startup's whitepaper, it is introducing Stablecoin, which will leverage AI-powered stabilization techniques to closely track synthetic indices. This groundbreaking initiative combines AI technology with traditional algorithms within an opensource and permissionless protocol. Its Stablecoin is specifically designed to exhibit low volatility and relatively low correlation with both fiat currencies and crypto assets, including Bitcoin.
ZYBER 365 Series A funding round, led by SRAM & MRAM Group, garnered significant investments from other prominent investors as well, highlighting the confidence in ZYBER 365's potential and growth trajectory.
In April this year, SRAM & MRAM Group has announced a USD 3.64 billion ( ₹2 Lakh crore) investment in a semiconductor fab in Odisha.
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