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Blockchain Infrastructure Startup InfStones Raises $33M in Series B Funding


Blockchain Infrastructure Startup InfStones Raises $33M in Series B Funding
Feb 24,2022|Featured
Blockchain Infrastructure Startup InfStones Raises $33M in Series B Funding

Blockchain infrastructure provider InfStones, which aims to serve as a flexible Amazon Web Services–like platform for Web 3 development, has closed a $33 million Series B funding round from a group of investors that included Susquehanna International Group (SIG) and Dragonfly Capital. No valuation was provided, with the round bringing the company’s total funding up to $45 million.

Other investors in the round included Qiming Venture Partners, DHVC, A&T and Value Internet Fund.

Founded in 2018 with offices in Beijing, the United States and Canada, InfStones plans to use the funding to expand operations in Asia, Europe and South America. The company will also triple its team from 30 to 90 employees over the next year, and expand support to more than 100 blockchains and protocols, up from more than 50 currently.

InfStones has been profitable since 2018, CEO Zhenwu Shi told CoinDesk in an interview. The purpose of the fundraising is to build out the ecosystem and network of collaborators. Current InfStones customers include crypto exchange Binance and analytics firm Dune Analytics.

The InfStones platform provides easy access to protocol consensus and proof-of-stake staking benefits. Users can run validator nodes, access on-chain data and build decentralized applications across multiple chains. The platform-as-a-service supports tens of thousands of nodes on blockchains including BNB Chain, Cardano, Chainlink, Ethereum, Polkadot, Polygon and Solana.

Read the full article here.

About InfStones

InfStones is an advanced, enterprise-grade Platform as a Service (PaaS) blockchain infrastructure provider trusted by the top blockchain companies in the world. InfStones’ AI-based infrastructure provides developers worldwide with a rugged, powerful node management platform alongside an easy-to-use API. With over 20,000 nodes supported on over 80 blockchains, InfStones gives developers all the control they need - reliability, speed, efficiency, security, and scalability - for cross-chain DeFi, NFT, GameFi, and decentralized application development.

InfStones is trusted by the biggest blockchain companies in the world including Binance, CoinList, BitGo, OKX, Chainlink, Polygon, Harmony, and KuCoin, among a hundred other customers. InfStones is dedicated to developing the next evolution of a better world through limitless Web3 innovation.