RedStone Oracles Raises $15 Million in Funding to Expand Services and Team
RedStone Oracles, a leading provider of data feeds for blockchain networks, has secured $15 million in early-stage funding to expand its services and team. The funding round was led by Arrington Capital and included participation from several other prominent investors.
An oracle is a crucial component in blockchain technology, as it connects blockchain networks to external data sources, allowing smart contracts to interact with real-world data. RedStone Oracles has established itself as a leader in this space, providing data feeds for over 60 blockchain networks, including Ethereum, Avalanche, and Polygon.
The company’s latest funding round will enable it to further enhance its services and introduce new models for accessing external data. RedStone Oracles is also focusing on the Ethereum restaking industry, where users can earn rewards by locking up their cryptocurrency tokens on a blockchain.
In addition to expanding its team and services, RedStone Oracles plans to launch an Oracle Extractable Value product and a native token later this year. The company’s commitment to innovation and growth has positioned it as a key player in the blockchain ecosystem.
Overall, RedStone Oracles’ successful funding round underscores its continued growth and leadership in the blockchain industry. With a strong focus on providing reliable data feeds and expanding its offerings, the company is well-positioned for future success.
