Obol Labs, a New York-based developer of infrastructure technology for Ethereum and other Proof-of-Stake blockchains, raised $12.5M in Series A funding.
The round was led by Pantera Capital and Archetype with participation from BlockTower, Nascent, Placeholder, Spartan, IEX, Coinbase Ventures and Ethereal Ventures.
Led by CEO Collin Myers, Obol Labs is building infrastructure technologies for Ethereum and other Proof-of-Stake blockchains to scale consensus and ensure decentralization. Consisting of members across 13+ countries, the core team is currently focused on bringing Distributed Validator Technology to Ethereum. The company is actively working with liquid staking protocols like Lido, Stakewise, and more to implement DVT into their operator set. In addition, a large majority of Obol’s earliest seed supporters are the likes of Coinbase Ventures, Figment, Blockdaemon, Chorus One, and a collection of other validators that are actively testing, adopting, and helping build Obol’s DVT technology.
In addition to working with larger validators, Obol Labs is helping to improve solo validator participation with their active community of 9,000+ members across 20+ countries. Together, at-home validators participating in Obol Labs testnets are running hundreds of multi-continent distributed validators on the Ethereum Goerli network with other operators using the recently launched DV Launchpad.
The company intends to use the funds to accelerate its Network’s roadmap for bringing DVT to Mainnet Ethereum, and advance DVT across other Layer 1 Proof-of-Stake blockchains like Cosmos, as well as the L2 ecosystem to help address the resiliency of sequencers.
FinSMEs
18/01/2023