Rated Labs, a company specializing in Ethereum-centric products, has completed a $12.888 million pure equity Series A funding round on Wednesday. The round was led by Archetype and saw participation from firms such as Placeholder, 1confirmation, Cherry, and Semantic. New investors also joined the round, including Robot Ventures, Chorus One, Factor, and Maelstrom.
The funds will be used to strengthen Rated Labs' existing product line, which includes a network explorer, data API, and an oracle. Moreover, they plan to expand their offerings to Layer 1 blockchains like Polygon, Solana, Cosmos and Polkadot. Future plans also include a role in Layer 2 networks' decentralized sequencer sets.
In addition to product development and expansion, Rated Labs will utilize the funding to double its workforce, primarily in engineering. Currently with a team of 12 employees, this move is aimed at scaling up operations to meet growing demand.
As part of the funding agreement, Ash Egan from Archetype has joined Rated Labs' board. This move is expected to bring strategic guidance to the company's growth journey.
Despite having no direct competition in its niche market, Rated Labs acknowledges Metrika and beaconcha.in as its closest rivals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.