Stork Network Raises $4.7 Million in Seed Funding

The web3 oracle provider Stork Network has successfully raised $4.7 million in seed funding.

Lightspeed Faction and Lattice led the funding round, with additional participation from CMS and Wintermute. The funds will be utilized to enhance Stork’s product offerings, particularly with Stork Perps.

Stork Labs, the core contributor to the Stork Network, aims to provide easier, cheaper, and more flexible on-chain data options for decentralized protocols. A significant tool in development is The Open Data Market, which connects data publishers with protocols, decentralized applications, and other data consumers via a Composite Oracle Service. Stork Perps is the firm’s first COS.

Stork Labs stated in an August 8 release, “Developers need open, reliable, and flexible data provisioning to power the next wave of on-chain applications focused on new primitives and enhanced user experience.”

Update: Aug. 22 15:34 UTC: Funding raised increased to $4.7 million, including Lattice as co-lead in the funding round.