Staking Platform Kiln Attracts $17M
Kiln, a platform for staking focused on institutional clients, has successfully closed a $17 million funding round led by 1kx.
Other prominent investors, including Crypto.com, IOSG, Wintermute Ventures, KXVC, LBank, Kraken Ventures, GSR and Avon Ventures (affiliated with FMR LLC, the parent company of Fidelity Investments), also participated in the round.
This latest funding brings the total raised by Kiln to approximately $35 million. In November 2022, the startup had closed a Series A funding round of €17 million (around $17.8 million), which included investments from Kraken and ConsenSys.
Kiln has not disclosed its current valuation, but the company’s developers have reported significant growth in staking assets, which have increased by more than five times to reach $4.2 billion in 2023.
In addition, the platform has integrated with numerous custodial solutions, wallets, and exchanges.
