Yakoa, an NFT fraud detection startup, has raised $4.8 million to build tools to fight intellectual property fraud in web3, the company exclusively told TechCrunch.
One of the most common attacks Yakoa sees is people making copies of NFTs and claiming them as their own work, Andrew Dworschak, co-founder of the startup, said.
Yakoa provides tools and an indexer that detects copies or infringement probabilities on original NFTs, ranging from direct forgery to partial or stylistic forgery, which will then notify platforms, brands or creators of these fraudulent activities.
The funding round was led by Collab+Currency, Volt Capital and Brevan Howard Digital, with participation from Data Community Fund, Alliance DAO, Uniswap Labs Ventures, Orange DAO, Time Zero Capital, gmjp, Sunset Ventures and FAST by GETTYLAB, as well as angel investors.
The capital will be used to grow its machine learning and data engineering teams internally, according to Graham Robinson, co-founder of Yakoa.
The platform identifies an NFT’s first existence across a number of blockchains like Ethereum, Solana, Avalanche, Polygon and more.