RedStone, a prominent provider of oracle data feeds for blockchains, has secured $15 million in a series A funding round led by Arrington Capital, according to a recent press release. The funding aims to bolster their team expansion efforts and enhance operational capabilities within the burgeoning blockchain oracle sector.
The investment consortium for this round includes SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Christian Angermayer’s Samara Asset Group, and HTX Ventures, underscoring strong investor confidence in RedStone’s strategic vision.
RedStone’s Expansion into Ethereum’s Restaking Landscape
RedStone’s latest funding comes at a pivotal moment as the company focuses on integrating its oracles into Ethereum’s evolving restaking ecosystem. Earlier this year, RedStone forged a significant partnership with Ether.fi, a leading restaking service on EigenLayer, securing a substantial $500 million to facilitate the integration of their data oracles.
According to Jakub Wojciechowski, CEO of RedStone Oracles, “Restaking presents a compelling opportunity for us due to our early mover advantage. Many liquid restaking tokens (LRTs) have already aligned with our platform. Technically, providing accurate price points for LRTs is a complex challenge, which we address with our modular and adaptable design. From a business perspective, the restaking market is rapidly growing and highly attractive.”
RedStone’s Oracles Across Leading Blockchain Platforms
In addition to its focus on restaking protocols, RedStone continues to provide crucial data feeds across various prominent blockchain platforms. These include Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain, and Blast, reinforcing its role as a key player in the blockchain oracle space.
FAQ:
What is RedStone? RedStone is a provider of oracle data feeds for blockchains, specializing in delivering accurate price points and data integration across multiple blockchain platforms.
What does the funding round mean for RedStone? The $15 million funding round, led by Arrington Capital, will support RedStone’s expansion efforts, particularly in hiring new team members and enhancing its operational capabilities.
Which blockchain platforms does RedStone support? RedStone provides data feeds for Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain, and Blast, among others, solidifying its presence in the blockchain oracle market.
