RedStone, a provider of oracle data feeds for blockchains, announced Tuesday that it raised $15 million in a series A round, led by Arrington Capital.
The fresh round of capital will go towards hiring new team members, according to a press release. Participation in the round included SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Christian Angermayer's Samara Asset Group and HTX Ventures.“Restaking is one of the areas where we are developing and very attractive for various reasons,” said Jakub Wojciechowski, CEO of RedStone Oracles, in an interview with CoinDesk.
“First, we have a first mover advantage," Wojciechowski said."A lot of LRTs started working with us. Second, it is a pretty complex challenge to technically start providing price points, especially for LRTs. We have a very modular and flexible design to cater for that. And in our view, on the business side, it is a very fast, growing and attractive market.”
In addition to providing oracles for restaking protocols, RedStone provides data feeds for Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain and Blast, according to the press release.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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