Kiln Secures $17M for Global Expansion of Ethereum Staking Platform

• Ethereum Staking Platform Kiln Secures $17 Million in Funding
• Extension of Previous Funding Round
• Kiln's Future Plans
• Vision of Kiln
• Total Investment Raised by Kiln

Ethereum Staking Platform Kiln Secures $17 Million in Funding

Ethereum$2,315 -2.42% staking platform, Kiln, has successfully raised $17 million in a recent funding round, according to an announcement made on Thursday. The leading contributor in this round was 1kx and other key participants included IOSG, Crypto.com, Wintermute Ventures, KXVC, and LBank. Additional financial support came from existing investors, as reported by the Paris-based company.

Extension of Previous Funding Round

The funding round extends on Kiln's prior $17.6 million Series A that was publicly announced in November 2022.

Kiln's Future Plans

The funds raised will be instrumental in financing Kiln's global expansion plans. The company intends to establish its Asia-Pacific headquarters in Singapore within the first quarter. It is also focusing on further product development.

Vision of Kiln

CEO and co-founder of Kiln, Laszlo Szabo, has expressed the company's mission to democratize value creation within the digital assets ecosystem. The company aims to provide millions of users easy access to rewards through its platform.

Total Investment Raised by Kiln

Since its inception, Kiln has successfully raised a total of $35 million from investors. Notable investors include Illuminate Financial, Kraken Ventures, Avon Ventures, Consensys, and GSR.

Edited by Jonathan Stoker