Sky Ecosystem Leads $13.5M Round for Osero

Osero raised $13.5 million in a financing round led by Sky Ecosystem, with the process beginning in December and the round closing in March. The deal was structured as a simple agreement for future tokens, or SAFT.

Plasma, a Layer 1 blockchain developer focused on stablecoin payments, co-led the round. Other participants included RedStone, The Rollup, Kairos Research, Maple co-founder Joe Flanagan and USDT0 co-founder Lorenzo Romagnoli. Founder Piotr Saczuk declined to disclose Osero’s valuation. The company was incubated over the past year by Stablewatch in partnership with Soter Labs. Stablewatch remains bootstrapped and has not taken outside capital.

Osero is building savings infrastructure for Sky’s stablecoins, mainly USDS (formerly DAI) and sUSDS, Sky’s yield-bearing token. The startup is developing three products: Osero App, a web interface for retail and institutional users to access the Sky savings rate; Osero Earn, an integration that allows wallets, neobanks, custodians and exchanges to offer the Sky savings rate without managing strategies or holding the underlying assets; and Osero Foundry, a service to help asset managers and product issuers tokenize and bring structured products onchain. Saczuk did not provide launch dates for the products.

Of the $13.5 million raised, $10 million is allocated to reserve requirements to protect users and the Sky protocol. Saczuk described the reserve as ‘a buffer to protect both users and Sky Protocol from potential losses,' and noted each deployment must pass Sky Protocol’s risk assessment framework, which draws on Basel III banking standards.

Osero plans two main revenue sources: a share of revenue on every USDS and sUSDS balance distributed through Osero Earn integrations and the app, and the margin between yield generated on institutional asset allocations and the Sky Base Rate paid on borrowed capital. Saczuk characterized Sky as operating similarly to a central bank, with agents or subDAOs handling distribution so each agent focuses on a distinct market segment. Osero will prioritize integrations with wallets, neobanks, exchanges and other channels.

Stablewatch currently employs about 13 people and plans hires in credit strategy and business development. No investor in the funding round took a board, advisory or observer seat. Plasma’s participation ties stablecoin infrastructure to payments-focused blockchain development, and Soter Labs continues to provide governance and managed operations support for the Sky Ecosystem.