Series A Round

Symbiotic, the universal staking protocol, has raised $29 million in a Series A funding round to launch its Universal Staking Framework. This innovative system enables decentralized networks to bootstrap fully sovereign ecosystems by shifting to 'universal staking', allowing any blockchain to be secured and any asset to be utilized, thereby powering insurance protocols and DeFi products. The funding will be used to expand the team and enhance the development of the Universal Staking framework. The round was led by prominent investors in the Web3 space, reflecting strong confidence in the potential of universal staking technology. Notable investors include Pantera Capital, Coinbase Ventures, and angel investors Sandeep Nailwal and Stani Kulechov.