Ethereum Staking Platform Kiln Raises $17M for Global Expansion

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.

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.

“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.