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Ethereum Staking Platform Kiln Raises $17M for Global Expansion

Will Canny
·1-min read

Ethereum staking platform Kiln has closed a $17 million funding round, the company said in a press release on Thursday.

The round was led by 1kx, with participation from IOSG, Crypto.com, Wintermute Ventures, KXVC and LBank. It also included additional contributions from existing investors, the Paris-based firm said. The new round was an extension of Kiln’s $17.6 million Series A announced in November 2022.

Read more: Ethereum Staking-as-a-Service Startup Kiln Raises $17.6M

Kiln said the money raised will be used to fund the company’s global expansion, which includes the opening of its Asia-Pacific headquarters in Singapore in the first quarter, as well as further product development.

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“Our mission is to democratize value creation in the digital assets ecosystem, providing millions of users with easy access to rewards through our platform,” said Laszlo Szabo, CEO and co-founder of Kiln.

Kiln has raised a total of $35 million from investors since its launch, with investment from the likes of Illuminate Financial, Kraken Ventures, Avon Ventures, Consensys and GSR.