InfStones, a blockchain development platform provider, raises $33 million in a Series B funding round from Susquehanna International Group (SIG), Dragonfly Capital, Qiming Venture Partners, DHVC, A&T, INCE Capital, and Value Internet Fund.
Founded in 2018, InfStones blockchain devlopment platform enables users to quickly build their applications on a large variety of blockchain networks. According to the company, it provides services to a wide variety of institutional clients and supports tens of thousands of nodes on more than 50 chains, including Ethereum, Binance Smart Chain, Cardano, Polygon, Polkadot, Solana, Chainlink, and more.
InfStones’ unified blockchain infrastructure makes it much easier for crypto exchanges, wallets, custodians, asset managers, analytics providers, and more to enter the blockchain space and adopt the technology.
InfStones launches AWS-like Self-Service Platform for Web3 Apps
InfStones also announces launch of a powerful, easy-to-use new front-end user interface that lets clients deploy nodes within minutes. The public and dedicated API gateways and node management services of this new platform are accessible via a self-service portal. The public API, which allows clients to deploy nodes with the click of a button, is currently available for Binance Smart Chain (BSC), BSC Archival Data, Ethereum, and NEO, with support coming for Cosmos and other chains.
Dr. Zhenwu Shi, CEO of InfStones, said:
“With InfStones, we’re created the world’s most powerful blockchain development platform with robust API features that gives developers integration and access to over 50 blockchains out of the box. InfStones gives more cross-chain access than any other platform in the world and includes Ethereum, Binance Smart Chain, Cardano, Polygon, Polkadot, Solana, Chainlink, and many more. We don’t compromise reliability, scalability, or speed despite having one of the world’s most easy to use, one-click deployment features.Our goal is to bring the AWS experience to Web3.”
Michael Yuan, Partner at SIG, pointed that the next phase of blockchain will be focused on ease of use, not only for end-users but also for the builders. “InfStones is simplifying a process that has been historically complex, without compromising reliability, security, scalability, and control. This will lead the way for a new era of blockchain growth that will change the way companies across a variety of verticals enter and build in the space,” Michael added.
InfStones plans to use the new funding to triple its workforce and expand support to more than 100 chains and protocols. Platform advancements and continued technology research and development are also on the agenda, as the provider positions itself as the “AWS of Web3.”
Tom Schmidt, General Partner at Dragonfly Capital, said:
“Just as AWS has made it easy for companies to deploy applications across servers, storage, and databases, InfStones is making it simple to deploy nodes, APIs, and other services. Their platform helps reduce the barriers to entry for new companies that are looking to incorporate blockchain technology into their stack.”
InfStones said that the new funding comes at a right time, mentioning that the blockchain economy continues to grow at a breakneck pace, and the need for a high-performance cross-chain development platform with rapid and scalable node deployment has become critical for decentralisation and Dapp development.
InfStones had previously raised $12 million in seed and Series A funding rounds, bringing the total amount raised to $45 million.
Read Also: Infinity Stones Providing Blockchain Infrastructure to Binance Ethereum 2.0 Staking