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Softbank Co-led $66 Million Round for Blockchain-Focused InfStones


Softbank Co-led $66 Million Round for Blockchain-Focused InfStones
Jun 01,2022|Featured
Softbank Co-led $66 Million Round for Blockchain-Focused InfStones

Despite shaky markets, a steady stream of investors continue writing big checks for blockchain infrastructure providers.

InfStones, which aims to help clients build applications across a number of blockchain platforms, closed a $66 million round led by SoftBank Vision Fund 2 and GGV Capital, the company announced on Wednesday.

Other investors in the raise include INCE Capital, 10T Fund, SNZ Holding and A&T Capital. This funding round follows shortly after its $33 million Series B three months ago and brings its total funding to $111 million. InfStones didn’t disclose an exact valuation, but said it was “near unicorn-status.”

“The funding will help us with product development consistent with our product strategy and road map, move into new markets, expand our team, and advance web3 adoption,” Zhenwu Shi, CEO of InfStones, said in an email to TechCrunch.

In the past, Shi said InfStones aims to be the web3 version of Amazon Web Services in order to make onboarding into the space easier so clients can quickly build applications on different blockchain platforms.

The company was founded in 2018 and has customers ranging from centralized crypto entities like Binance and Circle to decentralized scaling platforms like Polygon. It provides services for institutional clients globally and supports infrastructure for over 50 blockchains, including Ethereum, Polygon, Solana and Chainlink, among others.

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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.