According to a press release from the firm on Thursday, Kiln, an Ethereum staking platform, has completed a $17 million fundraising round.Along with IOSG, Crypto.com, Wintermute Ventures, KXVC, and LBank, 1kx led the round.The Paris-based company stated that it also includes further funding from current investors.Kiln announced a $17.6 million Series A in November 2022, which was extended with this additional investment.
Kiln stated that additional product development and the company’s worldwide expansion—which includes the launch of its Asia-Pacific headquarters in Singapore in the first quarter—will be financed by the funds raised.
“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.
Since its founding, Kiln has raised $35 million from investors, including contributions from Consensys, GSR, Illuminate Financial, Kraken Ventures, and Avon Ventures.