Singapore-based crypto staking provider RockX hits $30 million valuation after raising $6 million in Series A funding
RockX, a Singapore-based tech startup and Asia’s one-stop gateway to crypto finance and blockchains, has raised $6 million in Series A funding to accelerate the growth of its product and service offerings, as well as grow its team to better meet the increasing global demands for quality staking and data service.
The round was led by Amber Group, a leading global digital asset platform, and was joined by other veterans across the crypto and venture capital landscape and crypto industry leaders including Matrixport, Primitive Ventures, FBG Capital, Draper Dragon, IMO Ventures, Alpha CW and Megastake. The latest funding brings the company’s valuation to $30 million.
The funding comes at a period of unprecedented growth for the business. Since the beginning of the year alone, RockX has doubled its headcount and its assets under management to almost USD 1 billion, all while announcing significant collaborations with established 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.
Founded in 2019 by CEO Chen Zhuling, RockX has today become a leading gateway for crypto finance and blockchains globally, providing safe and secure infrastructure to support the digital staking economy. The team is equipped with a wealth of experience in mining, staking, protocol research, and infrastructure design.
In recent years, the company has built access node APIs for popular Layer 1 and 2 protocols for developers, and helps companies to seamlessly access and interact with blockchains.
With over USD 900 million worth of tokens staked, RockX is one of Asia’s leading staking platforms. Focusing on serving institutional and high net-worth clients globally to compound their returns on cryptocurrencies, RockX is always open to collaborating with synergistic partners & innovative Web 3.0 projects, ultimately helping to build the decentralized financial ecosystem.
Chen Zhuling, Chief Executive Officer, RockX, said: “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 make us uniquely positioned to become the leading global staking and data services provider. Our unwavering focus on product innovation has led to the development and implementation of several next-generation structured products for the liquid staking ecosystem. Looking ahead, RockX is set to play an increasingly pivotal role in a future that is digital and decentralized.”
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. We are proud to be part of the RockX story and we look forward to how this partnership can continue to accelerate and transform the growth of the digital asset ecosystem.”
John Ge, Co-Founder and Chief Executive Officer, 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 and being at the forefront of crypto financial innovation.”
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. We are proud to support the long-term growth of Zhuling and his team.”