According to TechFlow, Coindesk reported that RedStone, a blockchain oracle data provider, announced on Tuesday that it had completed a $15 million Series A financing round led by Arrington Capital. This round of financing will be used to expand the team. Other investors in this round of financing 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 to Ethereum's emerging Restaking space. RedStone CEO Jakub Wojciechowski said Restaking is an important area of development for the company with great appeal and market potential. In addition to the Restaking protocol, RedStone also provides data services for Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain, and Blast.
In April, RedStone reached an agreement with Ether.fi, the largest staking service on EigenLayer, to receive $500 million in funding to help bring its data oracle to the ecosystem.