Funding for the Nauris Protocol rises to $31 million as it seeks to expand decentralized cybersecurity

After a successful fundraising campaign that attracted huge companies in the industry such as Tim Draper’s Draper Associates, BPMT Trading Ltd and Holdun Family Office, the blockchain-powered cybersecurity startup norris protocol Closing an additional round, bringing the total capital raised so far to $31 million.

BPMT Trading Ltd and Holdun Family Office have increased their investment in the Portugal-based startup, bringing their total investment to $22 million. As the Naoris team prepares to launch the upcoming Minimum Viable Product (MVP), newly allocated capital will be directed to scaling the cybersecurity solution to meet the growing needs of both the Web2 and Web3 ecosystems.

The Holdon Family Office led the previous Nauris Protocol investment round and played a role in attracting other investors to support Nauris’ decentralized cybersecurity infrastructure. Team Holdun is credited with introducing Canadian financier and investor Marc Wade, institutional investor BPMT Trading Ltd, and ATP tennis star Milos Raonic, among others, helping to raise the profile and profile of the startup.

According to Mark Wade, “Investors don’t put $20 million into the startup project in two rounds. The reason, we believe, is that multiple exchanges will leverage and support the Naoris protocol, because the utility is the star of the show. A real blockchain use case doesn’t come up every day, and this One of them. We feel the Naoris protocol will make a huge impact, and we want to support the technology directly.”

A decentralized approach to cybersecurity

The Naoris protocol transforms the current cybersecurity paradigm that relies heavily on centralization, resulting in many single points of failure. The platform uses blockchain technology along with AI-powered risk management and a Distributed Proof of Security (DPoSec) consensus mechanism HyperStructure Networked Architecture for Cybersecurity.

The shortcomings of current cybersecurity solutions stem from the widespread reliance on a network of interconnected devices. However, these devices often act as individual silos operating independently. This creates situations in which each participating device becomes an entry point for cyberattacks. As a result, a single point of failure can lead to problems across the entire network.

Rather than building a network of stand-alone devices operating individually to mitigate risks, Naoris introduces an identity-based, interoperable and highly scalable security mechanism where all participating network devices are turned into trusted nodes for verification. This helps overcome the current problem of a single point of failure without compromising decentralization or any other blockchain-based features.

The protocol infrastructure is designed to mitigate cyber threats in real time. The platform currently displays a limited time span of less than a second, which is in stark contrast to the slow process that centralized cybersecurity models are accustomed to. Naoris is also leveraging Artificial Intelligence (AI), more specifically distributing Swarm AI, to create a self-healing network that will continue to grow stronger as more participants join the network.

Most importantly, the Naoris solution is designed for everyone to use. This decentralized cybersecurity solution offers high throughput and low fees, along with seamless integration capabilities across both Web2 and Web3 infrastructures.

David Carvalho, CEO of Naoris Protocol, concluded, “The current centralized status quo where hacking a single device can categorically and unacceptably compromise an entire network. Our free, non-competing solution operates on a new decentralized layer, opening the door to a new world for cybersecurity and enforcement of trust for applications, systems, and devices.”

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