Venture Capital firms Pantera and Coinbase Ventures jointly headline a $29 million Series A funding round for the cryptocurrency yield optimization service Symbiotic.
Symbiotic, a blockchain company specialising in secure network infrastructure, has announced a successful $29 million Series A funding round, co-led by Pantera Capital and Coinbase Ventures. The fresh capital will be used to expand the company's staking service into a broader staking platform, allowing blockchains to secure themselves with any asset, not just their native tokens.
Launched in January 2025, Symbiotic operates as a permissionless, modular restaking protocol that incentivizes secure and balanced capital reuse across multiple blockchain networks. The platform's innovative points system allocates rewards, optimising restaking yields while controlling overstaking risks by reducing rewards when stake thresholds are exceeded. This approach ensures capital efficiency and network security by penalising excessive restaking beyond a 3× threshold and adjusting rewards based on a "restaking score" that reflects risk distribution[1].
Initially, Symbiotic's staking protocol was focused solely on Ethereum. However, following the Series A funding, the platform has expanded its scope significantly to include restaking capabilities on the Ethereum mainnet. The company's staking service now targets a broader range of networks, including Layer 1s, oracles, bridges, data availability layers, and artificial intelligence/ zero knowledge processors.
The latest round also brought in backing from Paradigm and cyber•Fund, which co-led the seed round last year. Symbiotic's expanding staking protocol aims to secure any class of network, whether modular or monolithic, L1 or L2. The company plans to expand its staking protocol to include 35 networks, such as Hyperlane, Spark, and Avail, following the completion of the Series A round.
The fundraising round for Symbiotic was structured as equity with token warrants, bringing the total raised to $34.8 million, following a $5.8 million seed round announced last June. Stani Kulechov, Sandeep Nailwal, Anton Bukov, Anurag Arjun, Andrew Huang, and Eric Wall are some of the angels who participated in the fundraising round. The fundraising round also attracted participation from multiple angels from leading blockchain companies including Aave, Polygon, and StarkWare.
Misha Putiatin, co-founder of Symbiotic, confirmed the participation of these angels in an interview with The Block. However, the specific names of the blockchain companies involved in the fundraising round for Symbiotic were not disclosed in the available search results.
One of the key features of Symbiotic's expanding staking platform is Universal Staking, an expansion of the company's capital efficiency introduced by restaking. Universal Staking supports use cases beyond traditional staking, including insurance and other financial products. The company's vision is to create a secure and efficient staking ecosystem that can adapt to the evolving needs of the blockchain industry.
[1] Symbiotic's whitepaper: https://www.symbiotic.finance/whitepaper.pdf
- The successful Series A funding has enabled Symbiotic to broaden its staking platform, allowing it to secure various blockchains using assets beyond just their native tokens, venturing into fields like insurance and finance in addition to technology.
- With the fresh capital from the Series A round, Symbiotic plans to expand its staking protocol to include 35 networks, such as Hyperlane, Spark, and Avail, targeting diverse network structures, including Layer 1s, oracles, bridges, data availability layers, and artificial intelligence/ zero knowledge processors.
