Blockchain infrastructure provider InfStones has announced a $10 million Series A funding round led by Qiming Venture Partners, with participation from DHVC, HashKey Capital, Plug and Play, SNZ Holdings, and the family office of Xinjun Liang, co-founder and former vice-chairman/CEO of Fosun International.
The blockchain space has been historically difficult for people with non-technical backgrounds or companies lacking engineering resources to enter. From simply connecting to a blockchain to staking, most activities require an understanding of blockchain infrastructure and technical expertise.
To fill in the gap and help more individuals and institutions enter the space, InfStones lowers the barriers to connecting with blockchains, allowing clients to quickly deploy nodes on a large variety of networks. InfStones provides services to a wide variety of institutional clients including crypto exchanges, wallets, custodians, asset managers, analytics providers, and more.
Dozens of firms including 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.
With the new funds, InfStones will expand its services beyond staking to include 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 a self-service portal.
As one of the most expansive infrastructure Platform as a Service (PaaS) providers 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 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.”
– Dr. Zhenwu Shi, CEO of InfStones
A former engineer at Oracle, Dr. Shi holds a Ph.D. in Computer Science from the Georgia Institute of Technology. The founding team also 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.