Ether.fi, the leading liquid restaking protocol, has successfully closed a $27 million investment round, underscoring its position as a pioneering player in the decentralized finance (DeFi) ecosystem.
The investment round was led by venture firms Bullish and CoinFund, with significant participation from a diverse array of prominent investors including Amber Group, Arrington Capital, Bankless Ventures, Foresight Ventures, Chapter One, 4RCapital, Collider Capital, Lvna Capital, Draper Dragon, Node, OKX Ventures, North Island Ventures, Pulsar, Punk DAO, Relayer Capital, Selini, Version One, and White Star Capital, among others.
According to a statement released by Ether.fi on the social media platform X, the $27 million funding is divided between a previously undisclosed Simple Agreement for Future Equity (SAFE) round concluded late last year and a subsequent Series A round. The company expressed gratitude for partnering with some of the most esteemed names in the crypto industry and voiced excitement about collaborating with them.
A SAFE, or Simple Agreement for Future Equity, involves an investor providing funding to a company in exchange for the right to acquire equity in the company at a later date.
This latest investment round follows Ether.fi’s successful $5.3 million funding round led by North Island Ventures and Chapter One in February 2023, as reported by The Block.
Ether.fi boasts nearly $1.7 billion in total value locked, cementing its status as the premier Ethereum liquid restaking platform, as per data from DeFi Llama. The protocol not only stakes users’ ETH but also their eETH, the token derived from staking ETH. Ether.fi’s restaking mechanism is powered by the innovative EigenLayer protocol.
The successful conclusion of the $27 million investment round represents a significant milestone for Ether.fi, further solidifying its position as a leader in the DeFi space and highlighting growing investor confidence in its innovative approach to liquid restaking.