InfStones Raises $10M To Expand Blockchain Infrastructure Services

Announcements, Blockchain, Investing, News | August 25, 2021 By:

InfStones, a blockchain infrastructure platform that provides staking and node management services, has completed its $10 million Series A round of financing. The round was led by Qiming Venture Partners, with participation from DHVC, HashKey Capital, Plug and Play, SNZ Holdings, and the family office of Xinjun Liang, the co-founder and former vice-chairman/CEO of Fosun International.

InfStones provides services to a wide variety of institutional clients around the globe, including crypto exchanges, wallets, custodians, asset managers, analytics providers, and more. Dozens of top-tier firms like Binance, Circle, KuCoin, DHVC, imToken, BitGo, and Dune Analytics rely on the InfStones platform to run validator nodes, access on-chain data, and build decentralized applications (dApps) across a wide variety of blockchain networks. As the most expansive infrastructure Platform as a Service (PaaS) provider for the blockchain industry, InfStones supports tens of thousands of nodes on more than 50 chains, including Ethereum, Binance Smart Chain, Cardano, Polygon, Polkadot, Solana, Chainlink and more.

“As we make more investments across the blockchain ecosystem, we’ve learned the crucial role that infrastructure providers play in the industry’s growth. With the blockchain industry continuing to double down on Proof of Stake, ready access to a robust infrastructure and user-friendly node management tools are now more important than ever,” said Jing Wu, Partner at Qiming Venture Partners. “InfStones has already developed a track record of notable clients across a wide range of verticals but we’re excited about the company’s growth opportunities as blockchain technology advances and is being widely adopted across industries. As InfStones continues to expand its services, the company will have the capacity to help even more emerging projects.”

InfStones will use the latest funding to expand its services beyond staking to reflect the growing needs of the blockchain community through products such as public and dedicated API gateways and node management services. InfStones is also developing a front-end user interface to enable clients to access the platform through the industry’s first self-service portal.

“Our vision is to be the AWS of the blockchain industry and provide an easily accessible, multi-purpose platform for the current and future needs of the blockchain industry,” said Dr. Zhenwu Shi, CEO of InfStones. “As Proof of Stake (PoS) becomes the go-to consensus mechanism for most projects, we have a growing opportunity to fill their infrastructure needs and make blockchain application development as accessible as possible.”