Blockchain oracle RedStone raises $15 million Series A via token round

RedStone, a modular blockchain oracle, has raised $15 million in Series A funding via a private token round.

RedStone, a modular blockchain oracle provider, has raised $15 million in a Series A funding round led by Arrington Capital.

RedStone began raising funds for the Series A round in April after receiving inbound interest from investors and closed the round in June, founder and CEO Jakub Wojciechowski told The Block. The round was structured as a simple agreement for future tokens , Wojciechowski said, adding that "RedStone has no equity component at all." He declined to comment on the valuation.

A blockchain oracle supplies real-world data to smart contracts for execution based on current information. Meanwhile, a modular oracle offers flexibility with components that can be updated or replaced independently, ensuring easy scalability and integration across different blockchains. RedStone is currently the fifth-largest blockchain oracle, with its total value secured at around $3.5 billion, Wojciechowski said, citing DeFiLlama data.

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