Paris-based staking service provider Kiln has raised approximately $17 and a half million from a Series A funding round it participated in.
As the progressive adoption of the crypto industry continues, there is an increase in the number of projects invested in. The crypto market continues its activity in a bear trend. However, in this process, millions of dollars of funding are provided to strong and innovative projects. Recently, NFT platform Tropee has raised $5 million in funding. On the other hand, Aptos and Arbitrum also received millions of dollars of support. Companies that see the crypto bear market as an opportunity for initiative and development continue their project development. Finally, staking startup Kiln has raised $17 million in funding from strong investors.
Staking Initiative Received Strong Funding Support
Paris-based staking service provider Kiln has raised $17.6 million to develop and strengthen its staking infrastructure product line.
The venture arm of ConsenSys, GSR Ventures and Kraken also took part in the investment round that Kiln participated in. The startup’s clients include industry-leading companies such as Binance US, GSR and Ledger.
Ciaran O’Leary, co-founder of BlueYard Capital, one of the companies that invested in the project, argued that the staking system will be one of the building blocks of the entire crypto industry.
Kiln CEO and co-founder Laszlo Szabo said, “I am excited to complete a solid funding round with such respected investors in the crypto space that will enable us to establish the next generation market standard in staking technology.” said.
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