Alluvial, Developer of Liquid Staking Protocol Liquid Collective, Raises $12M in Series A Round

Alluvial, a software development company behind liquid staking protocol Liquid Collective, announced it has raised $12 million in a Series A funding round co-led by Ethereal Ventures and Variant, with participation from Brevan Howard Digital, Avon Ventures, Nascent Capital, a_capital, Robot Ventures, Fenbushi, IOSG, Blockdaemon and others. The funds raised will be used to further Liquid Collective to enable mainstream adoption of liquid staking on a global scale.

Liquid Collective is an enterprise-grade liquid staking protocol that went live in March. It aims to meet the needs of institutions for $ETH staking. Its backers include Coinbase, Bitcoin Suisse, Kiln and more.

Previously, Alluvial raised $6.2 million in a seed funding round with participation from Coinbase Ventures, Kraken and others.