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SoftBank, GGV Lead $66M Round for Web 3 Infrastructure Firm InfStones
The provider of an Amazon Web Services-like platform last raised $33 million in February.
By Brandy Betz
Updated May 11, 2023, 4:23 p.m. Published Jun 1, 2022, 12:30 p.m.
Blockchain infrastructure provider InfStones has raised $66 million in a new funding round led by SoftBank Vision Fund 2 and GGV Capital. This round comes a little over three months after InfStones raised $33 million, and brings total funding for the company to more than $100 million.
The new capital will help InfStones grow its team, build out its blockchain infrastructure solutions, expand into new markets and pursue potential partnerships and acquisitions, according to a press release provided to CoinDesk.
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Other participants in the round included INCE Capital, 10T Fund, SNZ Holding and A&T Fund.
InfStones offers an Amazon Web Services-like node management platform and application programming interface (API) for Web 3 developers. The platform provides access to protocol consensus and proof-of-stake staking benefits, plus the ability to run validator nodes, access on-chain data and build multi-chain decentralized applications. InfStones supports nodes on BNB Chain, Cardano, Chainlink, Ethereum, Polkadot, Polygon and Solana.
InfStones CEO Dr. Zhenwu Shi previously told CoinDesk that the firm had been profitable since 2018.
“InfStones provides the foundational infrastructure layer for the Web 3 era, offering an enterprise-grade node management and staking platform that makes it painless for customers to participate in Web 3” and decentralized finance, said SoftBank managing partner Dennis Chang in the release.
InfStones's competitors offering AWS-like services for Web 3 have also attracted investor interest this year, with Blockdaemon having raised $207 million in January at a $3.25 billion valuation, and Alchemy garnering $200 million the following month at more than a $10 billion valuation.
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