Series A Round

Symbiotic raised $29 million in a Series A funding round to expand its team and contribute to its Universal Staking framework. The protocol allows decentralized networks to bootstrap fully sovereign ecosystems, shifting to 'universal staking' that enables any blockchain to be secured and any asset to be utilized, powering insurance protocols and DeFi products. This funding round positions Symbiotic as a key player in the staking and decentralized finance (DeFi) landscape. The funding will be used to enhance the platform's capabilities and support its growth in the rapidly evolving DeFi sector. This round brings Symbiotic's total funding to $34.8 million, following a previous seed round of $5.8 million co-led by Paradigm and Cyber. The investment will also facilitate the development of innovative solutions within the DeFi ecosystem, aiming to improve user experience and security.