This fundraising round is co-led by Lightspeed Faction and Lattice, with participation from CMS and Wintermute Ventures.
NEW YORK CITY, NY / ACCESSWIRE / August 22, 2024 / Stork Network, a leading provider of pricing oracles across several asset classes, can announce today that it has raised $4.705 million in seed funding.
This fundraising round is co-led by Lightspeed Faction and Lattice, with participation from CMS and Wintermute Ventures. The funds will be used to expand Stork Network's product suite including building out and bringing to market the Open Data Market, among other initiatives.
"This funding is proof that the market believes in our vision," said Meredith Pitkoff, co-founder at Stork Network. "We are thrilled to have the backing of these visionary, leading firms, and couldn't be more proud to have them join us on this journey."
Pricing data across all asset classes has historically been a bottleneck to invention and innovation, and Stork Network is on a mission to alleviate this problem. This fundraise has already enabled Stork Network to expand beyond Stork Perps, through hiring across a number of areas including engineering marketing, business development, and more.
"We couldn't be more excited to back Stork Network," said Will Leas, Deal Partner at Lightspeed Faction, adding "With the emergence of dozens of new blockchains, hundreds of new primitives, and thousands of applications with diverse needs, there is strong demand for more flexibleoracle solutions. One size does not fit all. Stork is empowering developers with customizable, performant, high-quality data feeds and we are excited for the new apps and capabilities this infrastructure unlock enables."
This fundraise announcement comes on the heels of Stork Network launching the Open Data Market, an entirely new framework for data provision that connects three key counterparties including data publishers, data consumers, and composite oracle services.
Data shouldn't be a barrier to building, it should be the fuel for innovation. Our vision is to make data fast, easy, and flexible to use, empowering the next generation of on-chain applications and experiences.
Follow us on Twitter/X to stay at the forefront of the data revolution: https://x.com/StorkOracle
To learn more about the Open Data Market, please visit: https://blog.stork.network/part-ii-enter-the-open-data-market/
To learn more about Stork Network, please visit: https://www.stork.network/
About Stork Labs
Stork Network is a provider of decentralized data solutions for decentralized protocols. The company is led by web3 veterans and is the creator of both Stork Perps, a widely-used pricing solution supporting more than 2,000 assets, and the Open Data Market. Stork was founded on one principle - to make data accessible and affordable to all market participants.
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SOURCE: Stork Labs Inc.