RedStone, a company specializing in providing oracle data feeds for blockchains, announced a successful $15 million Series A funding round. The investment was led by Arrington Capital and included participation from SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, and other notable investors.
The funding will primarily be allocated towards expanding the team at RedStone to further enhance their services. The company aims to strengthen its position in the market by focusing on providing oracle services for various blockchain platforms.
One of RedStone’s key areas of focus is the emerging restaking landscape on Ethereum. By collaborating with leading platforms like Ether.fi, RedStone has secured significant investments to integrate their data oracles into the restaking ecosystem.
CEO of RedStone Oracles, Jakub Wojciechowski, highlighted the advantages of entering the restaking market, citing the company’s technical expertise and modular design as key factors for success.
In addition to supporting restaking protocols, RedStone offers data feeds for a wide range of blockchain networks, including Ethereum, zkSync Era, Avalanche, Polygon, Celo, and more.
Overall, the Series A funding round signifies a major milestone for RedStone as it continues to expand its presence in the blockchain industry and solidify its position as a leading provider of oracle solutions.
Read more: Ether.Fi Inks $500M Restaking Deal With RedStone Oracles