Crypto-based Startup, Staked, Pulls Heavy Weight Investors in $4.5 Million Seed Round
Staked is a startup that offers institutional investors the opportunity to participate in staking services, without having to deal with the associated technical infrastructure. Their services also extend to consumer-oriented companies such as wallets and exchanges who may want to increase the product offering being offered to their customers.
The staking-as-a-service business is participating in a seed fundraising round, being spearheaded by Pantera Capital. Pantera is a blockchain investment company. Coinbase Venture, Digital Currency Group, Global Brain, Fabric Ventures, Winklevoss Capital and Blocktree Capital are some of the other participants in the seed round, intended to raise $4.5 million.
Beyond day trading and buying to HODL, masternodes and staking services have garnered increased interest in the last 1 year. There is little wonder why these companies are rallying round Staked. Speaking to CoinDesk, the CEO and co-founder of Staked, Tim Ogilvie described the significant opportunity in the market.
You’ve got $25 billion of stake-able crypto that’s coming online in the next 15 months… Our cap table is all people who have stake or can influence stake.
The service currently supports 6 stake-able coins – Dash, Tezos, Livepeer, Decred, EOS, and Factom. There are however plans to add about 20 more coins this year.
Staked was started in March 2018 by Tim Oglivie, Jonathan Marcus, and Seth Riney. Multicoin Capital was one of their early clients.