PANews reported on February 17 that Web3 security company Stelo Labs completed a $6 million seed round of financing, led by a16z, with participation from First Round Capital, Opensea Ventures, Chainforest, BoxGroup, Pear, Homebrew, Louis Beryl, Sabrina Hahn, Dylan Field, Dan Romero, Gokul Rajaram, Lenny Rachitsky and others. Stelo Labs focuses on helping prevent malicious transactions, phishing and social engineering for Ethereum-based users. Stelo Labs also launched three new products today: Stelo v2, Stelo for developers and Approvals.xyz.

Stelo Labs launched the Stelo extension in September last year to help users protect their wallets from scams and phishing attacks. Stelo currently supports Ethereum and hopes to expand to other EVM-compatible chains in the future.