The company Kiln, specializing in Ethereum staking, has successfully completed a funding round, raising $17 million. The leading investor was the 1kx fund, with participation from IOSG, Crypto.com, Wintermute Ventures, KXVC, and LBank. These funds will be used to expand the platform and open a new office in Singapore.

In November 2022, Kiln already raised $17.6 million in a Series A funding round, receiving support from Kraken Ventures, Sparkle Ventures, GSR, and other funds. These investments were also aimed at the company's development.

The Kiln team plans to use the new investments to strengthen its presence in the Asia-Pacific region, starting with the opening of an office in Singapore in the first quarter of 2024. Kiln's CEO and co-founder, Laszlo Szabo, emphasized the company's mission to democratize access to rewards in the digital asset ecosystem.

Currently, the Kiln platform supports more than 30 networks and collaborates with companies such as Ledger, Flowdesk, Liquid Collective, SwissBorg, and Bitpanda. In the context of Ethereum's development, Kiln anticipates an increase in demand for staking this cryptocurrency.