RedStone, a Tallin, Estonia-based decentralized finance oracle platform, raised $525K in funding.
The round was led by Maven 11 Capital, with participation from Arweave, Collider Ventures, KR1, 1kx and Bering Waters Ventures.
The company intends to use the funds to continue to expand the partnerships with data providers and protocols that it supports and also to work towards the realization of its long term product roadmap which includes offerings such as cross-chain data bridges.
Led by CEO and founder Jakub Wojciechowski, RedStone provides a cross-chain data oracle providing pricing data for financial protocols. It leverages the Arweave blockchain to create affordable storage with a permanent audit trail and provides an automatic dispute mechanism, backed with insurance through staking. Today, RedStone supports 150 assets across three providers with oracle query interval times of up to ten seconds.