Drosera Raises $3.25 Million for Ethereum Security

The Ethereum security platform Drosera has raised $3.25 million in new financing, increasing its total funding to $4.75 million.

Funding Details

Greenfield Capital led this funding round, which also saw contributions from Anagram, Paper Ventures, Arrington Capital, UDHC, and Pulsar. The company focuses on building smart contract infrastructure known as Traps, designed to detect and neutralize threats on the Ethereum network.

Future Plans

According to a Drosera spokesperson, the newly acquired funds will be utilized to:
– Continue developing Traps
– Expand community engagement
– Research expansion onto other EVM-compatible chains
– Prepare for the launch of its mainnet in the second quarter of this year.

Greenfield Capital Principal Jendrik Poloczek expressed enthusiasm about the team’s dedication to transforming on-chain security, stating,

> “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.”

Additionally, Greenfield Capital successfully led a $5.5 million strategic funding round for the confidential computing platform Arcium as reported by The Block.