Blockchain infrastructure provider InfStones has announced that it has closed a $33 million Series B funding round.
InfStones wants to expand to more protocols
Investors from Susquehanna International Group (SIG), Dragonfly Capital, Qiming Venture Partners, DHVC, A&T, and Value Internet Fund participated in the round. With the new funding, the company plans to triple its team from 30 to 90 employees over the next year and expand support for more than 100 chains and protocols. The company had previously raised $12 million in its seed round and Series A, bringing its total funding to $45 million.
“With InfStones, we’re offering a powerful, scalable self-service staking platform that makes it incredibly easy for users to deploy and manage nodes on any blockchain. Our goal is to bring the AWS experience to Web3 so developers and companies can more easily offer staking services to their users and customers,” said Dr. Zhenwu Shi, CEO of InfStones.
What is InfStones?
Founded in 2018, InfStones is a staking and infrastructure platform that provides services to institutional clients and supports nodes on over 50 chains, including Ethereum, Polygon, Solana, Polkadot, Cardano, and Chainlink. The platform’s clients include Binance, Dune Analytics, Harmony, Circle, and KuCoin, among others. The fundraising comes at an opportune time for InfStones, as staking is growing in popularity and Ethereum is set to transition from proof of work (PoW) to PoS this year. The long-established project joins the ranks of other top chains that already rely on staking mechanisms.
In addition to the funding round, the provider is introducing a new front-end user interface that allows users to set up nodes in minutes. The public application programming interface (API) is available for Ethereum, Neo, BNB Chain, formerly known as Binance Smart Chain or BSC, and BSC Archival Data. There are plans to add support for Cosmos and other chains in the future.