Blockchain Infrastructure Provider InfStones Secures $10M via Series A led by Qiming Venture Partners

Blockchain infrastructure provider InfStones reveals that it has finalized a $10 million Series A round that was led by Qiming Venture Partners, along with contributions from DHVC, HashKey Capital, Plug and Play, SNZ Holdings, and the family office of Xinjun Liang, the co-founder and former Vice-Chair / CEO of Fosun International.

While “ripe with opportunity,” the blockchain or distributed ledger tech (DLT) sector has been challenging for individuals who don’t have a solid technical background or companies lacking engineering resources to enter the space.

From connecting to a blockchain network to staking crypto-assets, most activities require a solid understanding of blockchain or DLT infrastructure and technical expertise. In order to address the gap and help more individuals and institutions enter the space, InfStones is “bringing down the barriers to connecting with blockchain networks, allowing clients to quickly deploy nodes on a large variety of blockchain networks.”

InfStones offers services to several institutional clients throughout the world, including digital asset exchanges, crypto wallets, custodians, fund managers, and analytics providers.

Many of the leading firms such as 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 sector,  InfStones supports “tens of thousands” of computing nodes on over 50 chains, including Ethereum, Binance Smart Chain, Cardano, Polygon, Polkadot, Solana, and Chainlink.

Jing Wu, Partner at Qiming Venture Partners, stated:

“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.”

Wu added:

“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.”

With the capital injection, InfStones will be focused on expanding 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 working on a front-end user interface “to enable clients to access the platform through the industry’s first self-service portal.”

Dr. Zhenwu Shi, CEO of InfStones, remarked:

“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. 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.”

A former engineer at Oracle, Dr. Shi possesses a Ph.D. in Computer Science from the Georgia Institute of Technology.

The founding team includes Dr. Xue Liu, a professor at the School of Computer Science at McGill University in Canada and a fellow at the Canadian Academy of Engineering, who serves as Chief Scientist at InfStones.

The core team, made up of “former senior engineers at Google, Oracle, and Microsoft, is distributed around the globe and expanding rapidly,” the announcement noted.

Established in 2018 with business offices across three countries and two continents, InfStones is a fast-growing blockchain infrastructure provider.



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