RedStone Secures $15 Million in Series A Funding Round Led by Arrington Capital

RedStone, a leading provider of oracle data feeds for blockchains, has announced the successful closure of a $15 million series A funding round. The round was led by Arrington Capital, a prominent investor in the blockchain space.

The fresh capital infusion will primarily be allocated towards expanding RedStone’s team through new hires, as stated in a recent press release. Notable participants in the funding round include SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Samara Asset Group, and HTX Ventures.

This funding milestone comes as RedStone intensifies its focus on integrating its oracles into Ethereum’s rapidly evolving restaking landscape. In a strategic move earlier this year, RedStone partnered with Ether.fi, the largest restaking service on EigenLayer, securing a substantial $500 million allocation to facilitate the integration of RedStone’s data oracles into the Ether.fi ecosystem.

“Restaking presents a compelling opportunity for us on multiple fronts,” stated Jakub Wojciechowski, the CEO of RedStone Oracles, in a recent interview. “We have established a strong foothold in this space, collaborating with numerous liquid restaking tokens (LRTs) and addressing the technical complexities of providing accurate price data. The restaking market is rapidly expanding, and we are well-positioned to capitalize on its growth.”

In addition to their focus on restaking protocols, RedStone offers data feeds for a diverse range of blockchain networks, including Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain, and Blast, as highlighted in the press release.

Read more: Ether.Fi Inks $500M Restaking Deal With RedStone Oracles