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Naoris Protocol increases funding to $31M to scale up the world's first Decentralized CyberSecurity Mesh

·5-min read

Naoris Protocol
Naoris Protocol increases funding to $31M to scale up the world's first Decentralized CyberSecurity Mesh
08-Sep-2022 / 19:10 CET/CEST

Naoris Protocol increases funding to $31M to scale up the world's first Decentralized CyberSecurity Mesh BPMT Trading Limited and Holdun Family Office collaborate to lead further investment rounds along with ATP tennis star Milos Raonic and others

 

News release by Naoris Protocol

 

Porto, Protugal | September 08, 2022 12:05 PM Eastern Daylight Time

 

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Naoris Protocol is pleased to announce that it has increased its total capital raise to $31M. BPMT Trading Ltd and Holdun Family Office increased their investment in the cybersecurity startup, from the previous raise to a total of $22M. The additional funding will scale up the world's first decentralized cybersecurity solution aimed to address the huge problem facing current cybersecurity, as global cyber damages are projected to cost $10 trillion by 2025

Holdun lead the earlier investment rounds, and brought renowned Canadian financier and accredited investor Marc Wade, as well as institutional investor BPMT Trading Ltd who subsequently lead the most recent round. Holdun also brought many celebrity investors, including but not limited to ATP tennis star Milos Raonic and others to participate in the additional earlier private rounds to boost the overall investment.

“Part of our rationale for investing in the early rounds, and also later rounds is to basically tell people, this is something that you want to hold on to.” said Marc Wade. “If an investor comes into the first and later rounds, people will say ‘why are they doing this?’ Investors don't throw $20 million across two rounds into a startup project’. The reason, we believe, is that multiple exchanges will upload and support Naoris Protocol, because the utility is the star of the show. It's not everyday a true blockchain use case comes along, and this is one of them. We feel Naoris Protocol will make a big splash, and we want to support the technology directly.”

“Holdun has been one of the original investors and supporters of Naoris Protocol, and we continue to believe in their vision and have full confidence that they will become the leader in the cybersecurity industry in no time. Increasing our investment, and introducing them to strategic investors was a no-brainer for us. We look forward to what the future has to bring and will continue to provide all the support required for Naoris Protocol to accelerate on their vision,” said Brendan Holt Dunn, CEO and Chairman of Holdun Family Office.

Naoris Protocol promises to mitigate cyber threats in near real-time. With a blocktime of less than one second, it operates in stark contrast to current centralized models which take on average 287 days to identify a data breach and 80 days to contain a breach (IBM). The solution’s heartbeat is a novel, non-competing blockchain consensus named dPoSec along with a distributed Swarm AI, that creates a self-healing network, designed to directly address the outmoded architecture driving today's hyper-connected world.

The high throughput, low fee, utility blockchain is intended for use by everyone. From individual users that download the dApp, to global critical and regulated enterprises who specify a bespoke integration across disparate device sets, bringing secure harmony to their networks. Data quality and device compliance are automatically assured, as the trust status of the data generating environment at the time of data transmission, is recorded onto the blockchain and therefore provably trusted. Each device within the Decentralized Mesh constantly validates every other device for secure operational integrity, every single second.

Naoris Protocol CEO David Carvalho said: “In Blockchain, there is no checkmate, at its core, the Blockchain is cryptographically resilient, immutable, encrypted and decentralized. As such, Blockchain and cybersecurity are a match made in heaven. The current centralized status-quo where the hacking of a single device could compromise a whole network is categorically broken and unacceptable. Our complimentary, non-competing solution operates at a new layer, a decentralized layer in the defense in depth, where current companies, systems, and processes stand to benefit heavily. This means we will open up a new decentralized cybersecurity and trust enforcement world for applications, systems and hardware.”

 

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://naorisprotocol.com/

 

About Holdun Family Office (Bahamas) Limited

Holdun, an award winning 5th generation family business has a proud heritage that can be traced back 5 generations to industrialist and financier Sir Herbert Holt. Bringing together 100+ years of combined expertise in the areas of family office services, wealth management, trust services, and financial services, Holdun’s mission is to assist all of their clients, like they do their own family, by helping them grow their assets, protecting their existing wealth and preparing the next generation for the responsibilities they will assume in the future. The team at Holdun Family Office serve clients globally and meet their money management needs with a team of experts, specialists and advisors that are dedicated to delivering exceptional results.

 

About BPMT

BPMT is a family office incorporated in 2012, dedicated to delivering superior returns through investments across an array of asset classes and industries. With its primary offices located in London and the Dubai International Financial Centre, it has a focus on financial capital market strategies as well as project financing opportunities.

 

 

Contact Details

 

Dan Edelstein

 
pr@marketacross.com

 


Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

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