Series A Round

Symbiotic, a prominent entity in the cryptocurrency staking space, has raised $29 million in a Series A funding round led by Pantera Capital and supported by other Web3-focused investment firms. The funding will be used to further develop its generalized restaking system, which enables decentralized networks to bootstrap fully sovereign ecosystems. Symbiotic shifts to 'universal staking', allowing any blockchain to be secured and any asset to be used, powering insurance protocols and DeFi products. This funding round brings Symbiotic's total funding to $34.8 million, following a previous seed round of $5.8 million co-led by Paradigm. The company aims to expand its team and enhance its Universal Staking framework to facilitate broader adoption in the decentralized finance landscape.