# Naoris Protocol funding: rounds and investors > Naoris Protocol has raised $3.0M across 2 rounds since 2025. Investors include Draper Associates and Expert Dojo. Every round with its source. Source: https://millionrounds.com/company/naoris-protocol (Millionrounds; every figure on the page links to its filing or article) United States · [Venture startup](https://millionrounds.com/companies) # Who invested in *Naoris Protocol* 2 rounds we have observed, with the 2 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Web3 & Crypto Raised 10 months ago Funding summary Updated 26 Oct 2026 **$3.0M** raised across 2 rounds since 2025, from 2 sources - **Latest round:** Venture Jan 2026 - **Biggest round:** $3.0M Venture · May 2025 - **Investors:** 2 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2026 **$3.0M** Venture **?** Venture - **First round:** Venture, $3.0M - **Biggest round:** $3.0M - **Between rounds:** 8 months ## The rounds - **Jan 2026** Venture **Amount undisclosed** *2 returning* [Draper Associates](https://millionrounds.com/fund/draper-associates) [Expert Dojo](https://millionrounds.com/fund/expert-dojo) Source recorded - **May 2025** Venture **$3.0M** *2 new* [Draper Associates](https://millionrounds.com/fund/draper-associates) [Expert Dojo](https://millionrounds.com/fund/expert-dojo) Source recorded ## Founders and team From Naoris Protocol's own website: 2 founders, 2 on the team. **David Carvalho** Founder, CEO & Chief Scientist **Youssef El Maddarsi** Co-Founder & Chief Business Officer - **David Holtzman** Chief Strategy Officer - **Magnus Fyhr** Chief Financial Officer Advisers *Smart Infrastructure* ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Venture** 2025 **Venture** 2026 [Draper Associates](https://millionrounds.com/fund/draper-associates) [Expert Dojo](https://millionrounds.com/fund/expert-dojo) ## Everyone who backed them [Draper Associates](https://millionrounds.com/fund/draper-associates) VC firm **2** rounds [Expert Dojo](https://millionrounds.com/fund/expert-dojo) Accelerator **2** rounds Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=naoris-protocol). ## Also claim to have backed them These 2 firms list Naoris Protocol as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Highwind Capital](https://millionrounds.com/fund/highwind-capital) Family office Per its own site [Luna Capital](https://millionrounds.com/fund/luna-capital-3) VC firm Per its own site ## Quick answers about Naoris Protocol ### Who invested in Naoris Protocol? Naoris Protocol's investors include Draper Associates and Expert Dojo. ### How much has Naoris Protocol raised? Naoris Protocol has raised $3.0M across 2 rounds since 2025. One round did not disclose an amount, so the total is a floor. ### When did Naoris Protocol last raise? Naoris Protocol's most recent round was a Venture in Jan 2026. ### What was Naoris Protocol's biggest round? Naoris Protocol's largest round on record is $3.0M (Venture), in May 2025. ### Who backed Naoris Protocol first? Naoris Protocol's first round on record, in May 2025, was backed by Draper Associates and Expert Dojo. ### What stage is Naoris Protocol at? Naoris Protocol's latest named round is a Venture, in Jan 2026. ### Where is Naoris Protocol based? Naoris Protocol is based in the United States. ## Companies like Naoris Protocol In the same sector, and raised in the last eighteen months. [**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**Arda** $233M · Oct 2026](https://millionrounds.com/company/arda)[**Binance.US** $300M · Oct 2026](https://millionrounds.com/company/binance-us)[**Fission** $10M · Oct 2026](https://millionrounds.com/company/fission)[**Ramp** $4.5B · Oct 2026](https://millionrounds.com/company/ramp) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app