RedStone, a Tallinn-based DeFi oracle platform, announced on Monday that it has raised $7M (approximately 6.9M) in a Seed round of funding led by Lemniscap. Other participants include Coinbase Ventures, Blockchain Capital, Distributed Global, Lattice, Arweave, Bering Waters, Maven11, and SevenX Ventures.
The capital will allow the Estonian startup to grow the core team, strengthen its presence at international conferences & hackathons and expand partnerships with various blockchains, protocols, and applications.
RedStone says the funds will also play a key role in further developing its decentralised RedStone Oracles & modular data-processing Smart Contracts on Arweave called Warp.
The announcement comes one year after raising $525K in July 2021 from Maven 11 Capital, 1kx, Arweave, and other investors.
RedStone: What you need to know
Founded by Jakub Wojciechowski in 2021, RedStone is a Web3 startup that creates a cross-chain data oracle providing pricing data for Smart...
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