RedStone Oracles, a fast-growing blockchain oracle solution provider, has successfully raised $15 million in a Series A funding round. The company, which has already secured $4 billion in total value across 100 clients, plans to use the funds to enhance its product offerings.
RedStone is known for its gas fee-optimized price feeds that cater to all Ethereum Virtual Machine (EVM) and rollup-as-a-service (RaaS) networks. The funding round was led by Arrington Capital and included investments from Spartan, IOSG Ventures, SevenX, Amber, HTX Ventures, and several angel investors, including the founders of EtherFi and Berachain.
Michael Arrington, the founder of Arrington Capital, explained their decision to invest in RedStone:
“We have been impressed by RedStone’s ability to advance web3 infrastructure through their technical achievements, market approach, and security measures. This is a team of innovators who we believe will continue to lead in the oracle space.”
The funds will enable RedStone to further expand its suite of oracle products, solidifying its position as a key player in the blockchain industry.
Summary Review: RedStone Oracles‘ successful $15 million Series A funding round, led by Arrington Capital, highlights the growing confidence in their innovative modular oracle solutions. With their advanced technology and a strong base of 100 clients, RedStone is well-positioned to continue pushing the boundaries in the blockchain oracle space. The new funding will support their expansion efforts, enhancing their ability to provide optimized and secure price feeds across various blockchain networks. This significant investment underscores the potential for further growth and innovation within the decentralized finance ecosystem.
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