TechFlow news, according to Coindesk, blockchain oracle data provider RedStone announced on Tuesday the completion of a $15 million Series A funding round led by Arrington Capital. The funds will be used to expand the team. Participants in this round include SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Christian Angermayer's Samara Asset Group, and HTX Ventures.
RedStone is working to bring its oracle services into Ethereum’s emerging restaking sector. Jakub Wojciechowski, CEO of RedStone, said restaking represents a key growth area for the company with significant appeal and market potential. In addition to restaking protocols, RedStone provides data services to Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain, and Blast.
In April this year, RedStone reached an agreement with Ether.fi, the largest restaking service on EigenLayer, securing $500 million in funding to help integrate its data oracle into the ecosystem.
