Restaking Protocol EigenLayer Closes $50 Million Series A Funding Round Led by Blockchain Capital

EigenLabs, the team behind the Ethereum restaking protocol EigenLayer, has closed a $50 million Series A round led by Blockchain Capital with participation from Coinbase Ventures, Polychain Capital, Bixin Ventures, Hack VC, and Electric Capital and others.

EigenLabs was founded in 2021 by Sreeram Kannan, an assistant professor at the University of Washington, Seattle. It enables users to restake their ether (ETH) and innovate at the consensus layer without needing to launch a whole new blockchain, the company said. EigenLabs plans to launch the initial version of EigenLayer in phases over the rest of the year.

EigenLayer has previously closed a $14.5 million seed round led by Polychain Capital and Ethereal Ventures.