Naoris Protocol Raises $11.5M from Tim Draper, Holdun Family Office and Others to Scale Up Mesh-Based Cybersecurity Network
Porto, Portugal | July 27, 2022 10:00 AM Eastern Daylight Time
Naoris Protocol, a novel cybersecurity network utilizing a Mesh-based decentralized validator structure and AI-based risk management, has raised $11.5M from leading worldwide investors as it prepares to launch an MVP by the end of 2022.
The funds were raised from notable technology investors such as Draper Associates (founded by Tim Draper), Holt Xchange, Holdun Opportunity Fund, Brendan Holt Dunn, Holdun Family Office, SDC Management, Expert Dojo, Uniera, Level One Robotics, and multiple individual angels.
"Naoris Protocol is creating a unique distributed cybersecurity solution," said Tim Draper, Founding Partner, Draper Associates. "The team at Naoris sees an enormous market opportunity in cybersecurity and we at Draper Associates are thrilled to be part of their journey."
Naoris Protocol is built to offer cybersecurity solutions to remote-first and decentralized organizations. Thanks to its Decentralized Cybersecurity Mesh technology, it is able to mitigate threats across every device, every network and every type of institution providing a powerful solution for any Zero trust Architecture. The decentralized mesh utilizes blockchain technology for its benefits of trustless verification and peer to peer architecture. The decentralized validator-based structure enables software and hardware policy measurements and enforcement consistent with NIST SP-207 Zero Trust Architecture. The Naoris Blockchain provides a unique model to record the proof of trust with both confidentiality and provable integrity.
Naoris Protocol is designed to supplement existing cybersecurity defense systems. Its primary goal is detection and validating enforcement, utilizing its Hyperstructure-inspired network to detect lapses in security within minutes, instead of days or months. Joining Naoris Protocol provides real-time sharing of threat information and intelligence, while contributing to the network as well with the Naoris Protocol daemon.
Each validator in the Naoris Protocol mesh monitors and secures the value of the networks it covers, utilizing a Decentralized Proof of Security (dPoSec) consensus mechanism between peer to peer nodes in the network. Thanks to the Cybersecurity Mesh technology, incidents can be caught in time under a distributed consensus and save up to 90% of the value lost in individual cybersecurity incidents.
Naoris Protocol is expected to go live with an MVP by the end of 2022. In mid 2023, the team expects to release the full product to clients such as banking, industry, critical civil infrastructure, healthcare organizations and nation state organizations.
“Our vision is to leverage the cryptographic power of the many through blockchain to fundamentally change how trust happens between devices and applications on the internet, from individual users to businesses and critical spaces by creating a machine-economy backed cybersecurity enforcement protocol that's unstoppable, permissionless, and credibly neutral,” said David Carvalho, Naoris Protocol CEO.
“We have had the pleasure of working with David for almost two years now, and have never ceased to be amazed by his intelligence, and commitment to the business.” Said Brendan Holt Dunn, CEO and Chairman of Holdun Family Office. “He has built, along with Monica, an amazing company, one that fits a unique and extremely important need across all businesses globally, and we are honored to be associated with him and excited to see how our investment will help Naoris Protocol achieve such important goals. We will stop at nothing to provide the support and financial resources required to bring Naoris to the forefront of the Cybersecurity industry in Web2 and Web3. Naoris Protocol has our unwavering support and commitment.“
“As one of the leading crypto Venture Capital firms in Latin America, Uniera is always looking for businesses with disruptive blockchain-based solutions,” said Gustavo Albanesi, CSO of Uniera VC. “Naoris Protocol lines up perfectly with our investment thesis, which is to back robust and disruptive solutions with a highly professional and qualified team. It is Uniera's view that Naoris will be one of the blockchain-based companies to play a significant role in the widely interconnected Web3 world.”
About Naoris Protocol
Naoris Protocol is a Decentralized CyberSecurity Mesh for the hyper-connected world. Our disruptive and self healing design pattern makes networks safer as they grow, not weaker, by turning each connected device into a trusted validator node, including both Web3 companies and Web2, now cloud-based, often remote-first traditional organizations. . A powerful Blockchain protocol that every company can use to protect against the escalating levels of cyber risks. Naoris Protocol provides value to nation states, governance structures, industries, web2, and the entire web3 stack.
Learn more: https://naoris.com/