# Obal Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/obal-labs

- Industry: Software
- Headquarters: Ottawa, US
- Website: www.obol.tech
- Total disclosed funding: $19M
- Latest round: Series A (Jan 17, 2023)
- Investors on record: 10

## About

Based in Illinois, US, and founded by Collin Myers (Project Lead) and Oisín Kyne (Head of Technology in 2021, Obal Labs, Inc. operates as a software development company working on proof-of-stake infrastructure for public blockchain networks. In January 2023, the firm raised USD 12.5 million in Series A funding co-led by investors Archetype and Pantera Capital, with participation from BlockTower, IEX Group, Inc., Nascent, etc. The firm as of January 2023, has 22 employees and a community of more than 10,000 individuals.

The company as of January 2023, is working on the research and development of protocols such as Internet Bonds, Distributed Validator Technology, and Multi-Operator Validation for the decentralization of Ethereum's validator ecosystem. Obol Network enables people to create, test, run, and coordinate distributed validators which are multi-operator, fault-tolerant clusters of servers running Ethereum that help a subset of servers to fail and recover without going offline.

The company plans to utilize its January 2023 funding to advance the further development of its Distributed Validator Technology on Ethereum, and hire new employees.

## Funding rounds

- Series A, Jan 17, 2023, $13M — Pantera Capital, IEX Group, Inc., Placeholder, BlockTower Capital, Coinbase Ventures, Ethereal Ventures, Nascent, Archetype, Spartan
- Seed, Oct 18, 2021, $6.2M — Coinbase Ventures, Ethereal Ventures, Acrylic Financial

## Investors

- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Seed, Series A
- Ethereal Ventures (https://capitalatlas.ai/funds/ethereal-ventures) — Seed, Series A
- Acrylic Financial — Seed
- Pantera Capital (https://capitalatlas.ai/funds/pantera-capital) — Series A
- IEX Group, Inc. — Series A
- Placeholder (https://capitalatlas.ai/funds/placeholder) — Series A
- BlockTower Capital (https://capitalatlas.ai/funds/blocktower-capital) — Series A
- Nascent (https://capitalatlas.ai/funds/nascent) — Series A
- Archetype — Series A
- Spartan — Series A