The blockchain infrastructure provider Infstones concludes series B worth $ 33 million

The blockchain infrastructure provider Infstones concludes series B worth $ 33 million

The blockchain infrastructure provider Infstones completed a series-B round worth $ 33 million to develop its platform, Zhenwu Shi, founder and CEO of the company, told block works.

Investors of the Susquehanna International Group (SIG), Dragonfly Capital, Qiming Venture Partners, DHVC, A&T and Value Internet Fund took part.

The company previously collected $ 12 million in its seed round and series A, which increased its total financing to $ 45 million. Shi refused to disclose an evaluation.

With the new financing, the company plans to triple its team from 30 to 90 employees next year and to extend support to over 100 chains and protocols.

Infones was founded in 2018 and is a staking and infrastructure platform that offers services for institutional customers and supports knots in over 50 chains, including Ethereum, Polygon, Solana, Polkadot, Cardano and Chainlink.

"The demand for our infrastructure platform service was very strong," said Shi. "Infstones was profitable from day one."

The customers of the platform include Binance, Dune Analytics, Polygon, Circle and Compound, he found.

"With the growth of web3 technology and applications, data structures and architectures are becoming increasingly decentralized," said Shi.

"Web3 applications are not intuitive to be used or developing, so the Web3 ecosystem requires an AWS-like layer solution to increase the speed and growth of the web3 introduction."

In addition to the capital increase, the provider introduces a new front-end user interface with which users can provide nodes within minutes. The public application programming interface (API) is available for Ethereum, Neo, BNB Chain-formerly known as Binance Smart Chain, or BSC and BSC archive data. It is planned to add support for Cosmos and other chains in the future.

The API will continue to add functions that develop developers complete automation, quick provision and multi-cloud support, said Shi.

In the future, the provider will concentrate on the further development of the blockchain platform in order to become the "preferred AWS from Web3", said Shi.

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The contribution Blockchain Infrastructure Provider Infstones concludes $ 33m Series B from is no financial advice.