SoftBank and GGV Lead $66M Round to InfStones, a Web 3 Infrastructure Company

InfStones, a blockchain infrastructure provider has raised $66million in a new round of financing led by SoftBank Vision Fund 2 & GGV Capital. This round comes a little over three months after InfStones raised $33 million, and brings total funding for the company to more than $100 million.

According to a press release, InfStones will use the capital to grow its team and build its blockchain infrastructure solutions. It will also help InfStones expand into new markets, pursue potential acquisitions and partnerships.

Other participants in the round included INCE Capital, 10T Fund, SNZ Holding and A&T Fund.

InfStones provides a node management platform similar to Amazon Web Services and an application programming interface (API), for Web 3 developers. This platform allows you to access protocol consensus and proof -of-stake benefits. You can also run validator Nodes, access on chain data, and create multi-chain decentralized apps. InfStones has nodes for BNB Chain, Cardano Chainlink, Ethereum and Polkadot.

Dr. Zhenwu Zhu Shi, CEO of InfStones, previously stated to CoinDesk the firm was profitable since 2018.

“InfStones provides the foundational infrastructure layer for the Web 3 era, offering an enterprise-grade node management and staking platform that makes it painless for customers to participate in Web 3” and decentralized finance, said SoftBank managing partner Dennis Chang in the release.

InfStones’s competitors offering AWS-like services for Web 3 have also attracted investor interest this year, with Blockdaemon having raised $207 million in January at a $3.25 billion valuation, and Alchemy garnering $200 million the following month at more than a $10 billion valuation.

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