Pantera Leads $29M Funding for EigenLayer Rival Symbiotic to Expand Staking Play

The team behind the Symbiotic network, the restaking protocol meant to rival EigenLayer, shared Wednesday that it had raised $29 million in a Series A round.The funding will expand the current team and develop the protocol’s Universal Staking framework, broadening its efforts from just restaking to including providing support for other staking activities. “Rather than focusing solely on shared security, Symbiotic enables any combination of assets to secure any class of network—modular or monolithic, L1 or L2—while supporting use cases that extend well beyond traditional staking, including insurance and other financial products,” the team shared in a press release.Pantera Capital led the funding round, which also saw participation from Coinbase Ventures and over 100 angel investors source: https://www.coindesk.com/tech/2025/04/23/pantera-leads-usd29m-funding-for-eigenlayer-rival-symbiotic-to-expand-staking-play