Singapore crypto startup, RockX, raises US$6mil Series A, valued at US$30mil
By Digital News Asia April 5, 2022
- Round led by Amber Group with Matrixport, Draper Dragon, Alpha CW
- Aims to meet rising staking & on-chain data access demands of industry
RockX, a Singapore based crypto staking provider, announced its US$6 million Series A funding which values it at US$ 30 million. Led by Amber Group, a global digital asset platform, the round was joined by other crypto industry leaders including Matrixport, Primitive Ventures, FBG Capital, Draper Dragon, IMO Ventures, Alpha CW and Megastake.
RockX will use the funds to enhance its product and service offerings, as well as grow its team to better meet the increasing global demands for quality staking and data services. The funding comes at a period of rapid growth. Since the beginning of the year alone, RockX claims to have doubled its headcount and its assets under management to almost US$1 billion, all while announcing collaborations with protocols such as Lido and ssv.network, to bring more innovative liquid staking products and robust validator infrastructure onto major and emerging proof-of-stake blockchains.
“The strong support we are seeing in our inaugural round of capital raising is a testament to the potential and strength of our business. The trust and confidence our investors have placed in us makes us uniquely positioned to become the leading global staking and data services provider,” said Chen Zhuling (pic), Chief Executive Officer, RockX.
He adds that product innovation has led to the development and implementation of several next-generation structured products for the liquid staking ecosystem.
Michael Wu, Chief Executive Officer, Amber Group, said, “We have been very impressed by Zhuling and his team’s work, and the strength of their offering really speaks to the tremendous value they have brought into the crypto ecosystem. RockX’s innovative approach to staking has become an integral part of Amber Group’s portfolio of products and services, and has really complemented our institutional offerings. This investment is a commitment to secure the growth of RockX, and it made a lot of sense to us as we believe that there are many synergies that can be unlocked between both companies.”
Another investor, John Ge, co-founder and CEO, Matrixport said,”We are excited about the immense potential for enhancing and creating value in the staking economy. By promoting accessibility across the digital asset ecosystem, RockX has become a key player in driving growth.”
Dovey Wan, Founding Partner, Primitive Ventures, said, "The RockX team is a rare find in the crypto landscape, having been through many market cycles. They have built a robust, comprehensive and non-custodial staking product that also serves as composable DeFi Lego. With their deep knowledge in both technology and finance, the state-of-the-art on-chain data service they have designed is well placed to unlock countless opportunities for future product innovation."
Established in 2019, RockX has become a gateway for crypto finance and blockchains, providing secure infrastructure to support the digital staking economy.
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