InfStones Raises $66M for Its Web3 Fund Backed by SoftBank Vision Fund 2

Web3 infrastructure services provider InfStones has raised $66 million in a funding round for enterprise-wide expansion and to accelerate growth.
Image source: infstones.com

Quick take:

  • InfStones has completed a $66 million funding round to invest in Web3 startups.
  • The fundraising was led by SoftBank Vision Fund 2 and GGV Capital, with participation from INCE Capital, 10T Fund, SNZ Holding, and A&T Capital.
  • The latest round of funding pushed InfStones closer to Unicorn status after completing another $33M raise in February.

InfStones has completed a $66 million funding round led by SoftBank Vision Fund 2 and GGV Capital. The fundraising also attracted participation from INCE Capital, 10T Fund, SNZ Holding, and A&T Capital.

The blockchain infrastructure provider said it will use the funds to invest in enterprise-wide expansion and accelerate growth. InfStones raised $33 million in February 2022, bringing its total fundraising to $100 million. The company said the latest funding round pushes it closer to unicorn status.

The Web3 company is specifically looking to scale its developer team and build more robust blockchain infrastructure solutions for global clients. InfStones will also use the funds to expand into new markets, including through partnerships and acquisitions. 

Commenting on his company’s latest funding round, Dr Zhenwu Shi, CEO of InfStones said the team’s “vision is to provide a rugged, easy-to-use Web3 environment to build a more transparent, intelligent world.”

“We intend to drive rapid adoption of Web3 decentralized applications worldwide,” Shi commented in the press statement.

InfStones describes itself as an advanced, enterprise-grade Platform as a Service (PaaS) blockchain infrastructure provider that has won the trust of some of the biggest companies in the world, including Binance, Coinlist, BitGo, OKX, Chainlink, Polygon, Harmony, and Kucoin, among others.

Its platform utilises over 10,000 nodes supported on more than 50 blockchains to give project developers all the power and control they need to build highly reliable, fast, efficient, secure and scalable apps across blockchains, including DeFi, NFTs, and GameFi, among others.

Dennis Chang, Managing Partner at Softbank Investment Advisers commented: “InfStones provides the foundational infrastructure layer for the Web3 era, offering an enterprise-grade node management and staking platform that makes it painless for customers to participate in Web3 and DeFi.”

On the other hand, Jenny Lee, Managing Partner of GGV Capital said: “GGV invests in high-potential projects and teams that show incredible promise. InfStones’ technology and platform architecture will be a significant factor in propelling the adoption of Web3 worldwide.”

Stay up to date:

Previous Post

The Weeknd Joins Forces with Binance for Upcoming Web3-Powered World Tour

Next Post

AI Startup Kiya Launches India’s First Banking Metaverse

Related Posts
Stay on top of things
Follow us on Twitter
Total
1
Share