Drosera Raises $4.75M for Decentralized Ethereum Security

Ethereum-based security protocol Drosera has secured $4.75 million in a new funding round, led by Greenfield Capital and supported by prominent institutional investors such as Anagram, Paper Ventures, Arrington Capital, UDHC, and Pulsar. Drosera's innovative "Traps" smart contracts enable a decentralized security framework, empowering a network of node operators to manage its security.

More than 25 protocols, including Ion Protocol, EtherFi, and Gravita, have pledged their involvement in Drosera's upcoming testnet. This collaboration is expected to strengthen the security landscape within the Ethereum ecosystem, as Drosera continues to enhance its capabilities.

Drosera's success in raising funds reflects the growing interest in decentralized security solutions and the Ethereum blockchain. The protocol's innovative approach to security automation has garnered significant attention from investors and other protocols in the ecosystem.

The funding will enable Drosera to further develop its technology, expand its team, and increase its presence in the market. As the protocol continues to grow, it aims to provide a robust and decentralized security solution for the Ethereum blockchain and its users.