Ethereum security platform Drosera raises $3.25 million in funding, brings total funding to $4.75 million
Quick Take Greenfield Capital led the round, which saw additional support from Anagram, Paper Ventures, Arrington Capital, UDHC and Pulsar. Drosera builds out “traps,” or smart contracts that can detect and cancel out threats on the Ethereum network.
The Ethereum security platform Drosera raised $3.25 million in fresh financing, bringing the firm's total funding raised to $4.75 million.
Greenfield Capital led the round, which saw additional support from Anagram, Paper Ventures, Arrington Capital, UDHC and Pulsar. The firm builds out smart contract infrastructure called "Traps," which detects and cancels out threats on the Ethereum network.
Drosera plans to use the funds raised to continue developing Traps, invest in growing its community, and research expanding onto other EVM-compatible chains, a Drosera spokesperson told The Block. In addition, Drosera plans to prepare for the launch of its mainnet in the second quarter of this year.
"We are excited about the experienced team and its relentless drive to redefine onchain security," said Greenfield Capital‘s Principal Jendrik Poloczek in a statement shared with The Block. "In DeFi, economic audits and bug bounties are simply not enough. Drosera provides the crucial building block of holistic, real time threat detection and incentivized response."
Aside from Drosera, Greenfield Capital also led a $5.5 million strategic funding round for the confidential computing platform Arcium, The Block previously reported.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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