San Juan, Puerto Rico, February 10th, 2025, Chainwire
Drosera, an innovative Ethereum-aligned security automation layer, positioned as the immune system for Ethereum has closed its latest funding round bringing the total raised to $4.75 million. The raise, which was led by Greenfield Capital, saw participation from several prominent funds including Anagram, Paper Ventures, Arrington Capital, UDHC and Pulsar. Multiple angel investors also committed capital, among them Jan Baeriswyl, Luke Hackett, Felix Lutsch, Max from DeFine Logic Labs, Diogo Costa, Yaroslav Pshenitsyn, Peter Kim, Mara Schmidt, Daniel and Abhishek from Swell Labs, Anuj Shankar, and Collin Myers.
“We are thrilled to have the support of so many esteemed investors as we strive to set a new and elevated standard for protocol security,” said Samuel Glenn (Bobafetador), co-founder and CTO of Drosera. “Drosera acts as Ethereum’s immune system by arming protocols with the ability to detect and neutralize threats before they can cause harm. By significantly reducing the risk of exploits, we are building a more resilient and trustworthy DeFi ecosystem.”
With over 3,700 web3 protocols having fallen victim to exploits enabled by security failings and vulnerabilities, Drosera offers a cutting-edge solution.
“This raise is a pivotal milestone for Drosera as we continue our mission to redefine security standards within the decentralized finance space,” said Fernando Reyes (FDR), Founder and CEO of Drosera.
“This funding will enable us to scale and push the boundaries of what’s possible in protocol security, ensuring that every project built on Ethereum can operate with greater resilience against the ever-evolving landscape of cyber threats. Honing in our mission to actualize a Web3 without Compromise”
Drosera’s innovative approach, modeled as Ethereum’s immune system, enables protocols to delegate security infrastructure to a decentralized network of node operators. This system functions similarly to antibodies in a biological immune system, identifying and neutralizing threats in real time to safeguard the network. It works as follows:
• Protocols create Traps, highly customizable Solidity-based smart contracts that define application security parameters
• Protocols deposit funds into Traps, creating value for third-party operators who use the Drosera Client to actively monitor Ethereum data to respond to events deemed risky: operators must execute an emergency response upon detection of a breach
Drosera’s system aligns incentives across protocols and operators, giving birth to a new economy that it believes will become the standard for web3 security. The network has already gained significant traction, with over 25 protocols committed to its Testnet, including Ion Protocol, EtherFi, and Gravita. It has also secured partnerships with several node operators such as Infstones, Everstake, Cosmostation, a41 and Blockscape, and joined forces with security specialist GoPlus.
“We are excited about the experienced team and its relentless drive to redefine on-chain security.” said Greenfield Principal Jendrik Poloczek “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.”
“Drosera’s approach to Web3 security leaves no stone unturned,” said Paper Ventures Partner Ivailo Jordanov. “By leveraging a decentralized network of node operators, they are creating a new and exciting paradigm for security at the protocol level. We look forward to seeing the impact the network has on the industry going forward.”
Funds raised by Drosera will be used to accelerate product development, recruit personnel, and prepare for the launch of mainnet, scheduled for Q2 of 2024.
About Drosera:
Drosera is the decentralized immune system of Ethereum.
By leveraging the next generation of smart contracts known as “Traps”, Drosera provides adaptive and verifiable mechanisms that act like antibodies, detecting and neutralizing vulnerabilities before they can harm the ecosystem.
For partnership inquiries or more information, contact us below:
Website
Contact
Zain
zain@drosera.io
