Key Takeaways:
- RedStone Oracles has raised $15 million in Series A funding, led by Arrington Capital, to expand its efficient oracle services for blockchain networks.
- Since launching on the mainnet in January 2023, RedStone supports over 60 blockchains and provides cost-effective data solutions for decentralized applications (DApps).
- RedStone has emerged as a key player in the decentralized finance (DeFi) arena, currently serving 100 clients and managing $4 billion in total value, ranking sixth among oracle solutions according to DefiLlama.
RedStone Oracles has secured $15 million in Series A funding from Arrington Capital, along with investments from Spartan, IOSG Ventures, SevenX, Amber, HTX Ventures, and angel investors.
Known as the fastest-growing modular oracle, RedStone plans to use the funds to expand its gas fee-optimized price feeds for EVM and RaaS networks.
RedStone is excited to announce a $15M Series A fundraising round, led by @Arrington_Cap to expand its Modular Oracle product ♦️🧵 pic.twitter.com/d8wNIJ0uPr
— RedStone Oracles ♦️ (@redstone_defi) July 2, 2024
The investment is driven by RedStone’s advanced infrastructure and potential to lead in the oracle space.
Founded in 2021 and launched on the mainnet in January 2023, RedStone supports over 60 blockchains, aiding DApps by reducing transaction and data costs.
As a significant player in the DeFi space, RedStone has attracted 100 clients and secured $4 billion in total value, with a current ranking as the sixth-largest oracle solution tracked by DefiLlama.
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