Series A Round

Symbiotic raised $29 million in a Series A funding round to expand its team and develop a Universal Staking framework. This funding will enable the company to enhance its decentralized networks and support the growth of insurance protocols and DeFi products. Symbiotic is pioneering a generalized restaking system that empowers decentralized networks to bootstrap fully sovereign ecosystems, allowing any blockchain to be secured and any asset to be utilized. The funding will also facilitate the development of innovative solutions in the decentralized finance (DeFi) space, positioning Symbiotic as a leader in the staking ecosystem. The Series A round brings Symbiotic's total funding to $34.8 million, following a previous seed round of $5.8 million co-led by Paradigm.