Ethereum security platform Drosera raises $3.25 million in funding, brings total funding to $4.75 million

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 Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.