Symbiotic, a startup based in Berlin, Germany, has secured $29 million in Series A funding.
The funding round was led by Pantera Capital, with participation from Coinbase Ventures and over 100 angel investors from prominent teams like Aave, Polygon, and StarkWare.
The company plans to utilize the capital to expand its core team and support structures within the ecosystem to keep up with the increasing demand from networks. They aim to develop improved SDKs and tools to facilitate integrations for the 20+ networks currently in their pipeline. Additionally, they will enhance functionality related to slashing mechanisms, cross-chain collateral composition, and risk modeling to enable new economic primitives.
Symbiotic is working on a platform that allows users to “restake” crypto tokens across various blockchain applications to enhance security and rewards.
In January 2025, the company successfully deployed feature-complete core contracts on the Ethereum mainnet, establishing the first shared security system with customizable slashing capabilities. With 14 networks already operational and more than 35 in different stages of integration, Symbiotic is quickly becoming a cornerstone for decentralized coordination.
The founding team of Symbiotic includes Misha Putiatin, Jillian Friedman, Algys Ievlev, and Felix Lutsch.
Published by FinSMEs on 25/04/2025
