Ethereum liquid restaking protocol Ether.fi closes a $27 million investment round

The largest liquid restaking protocol, Ether.fi, closed a $27 million investment round. 

The venture firms Bullish and CoinFund led the round, which had additional participation from Amber Group, Arrington Capital, Bankless Ventures, Foresight Ventures, Chapter One, 4RCapital, Collider Capital, Lvna Capital, Draper Dragon, Node, OKX Ventures, North Island Ventures, Pulsar, Punk DAO, Relayer Capital, Selini, Version One and White Star Capital, among others. 

"The $27 million is split between a previously unannounced SAFE closed late last year and a series A," Ether.fi wrote on the social media platform X. "We’ve brought on some of the most incredible partners in the crypto world and we couldn’t be more excited to work with them." A Simple Agreement for Future Equity, or SAFE, entails an investor funding a company and obtaining a right to the financed company's equity at a later date. 

Ether.fi raised a $5.3 million round led by North Island Ventures and Chapter One in February 2023, The Block previously reported. 

Ether.fi maintains nearly $1.7 billion in total value locked, making it the top Ethereum liquid restaking platform, according to the crypto data platform DeFi Llama. Ether.fi not only stakes a user's ETH but also their eETH, the token derived from staking ETH. The restaking protocol EigenLayer powers Ether.fi.