Blockchain Infrastructure Provider InfStones Nabs $66M in Extended Funding Round

InfStone said its fresh injection of capital from the extended Series B would help it bolster its team and focus on enterprise-wide expansion


InfStones CEO Zhenwu Shi | Source: InfStones


key takeaways

  • The round was led by SoftBank Vision Fund 2 and GV Capital, the investment arm of Google parent Alphabet Inc.
  • The extended round follows its Series B in February in which it managed to pick up a further $33 million in fresh capital

Blockchain infrastructure provider InfStones said it has edged closer to “unicorn status” with this latest funding round of an extended Series B, which saw the firm pick up a further $66 million.

The round was led by SoftBank Vision Fund 2 — one of the world’s largest technology-focused investment funds — and GV Capital, the investment arm of Google parent Alphabet Inc.

Participation in the round also came via venture capital firms INCE Capital and SNZ Holding as well as venture funds 10T Fund and A&T Capital. A representative from InfStones was not immediately available for comment on its post-money company valuation to date.

The fresh injection of capital will be used for enterprise-wide expansion and to accelerate growth, according to a company statement shared with Blockworks on Wednesday. That includes growing the firm’s team and its offerings, an expansion into new markets, and acquisition efforts.

“Our vision is to provide a rugged, easy-to-use Web3 environment to build a more transparent, intelligent world,” InfStones CEO Zhenwu Shi said in the statement. “We intend to drive rapid adoption of Web3 decentralized applications worldwide.”

InfStones’ latest raise follows on from its Series B raise in February in which the firm managed to pick up $33 million to further develop its platform. The company also had a $10 million Series A raise in August of last year, bringing InfStones’ total funding to roughly $109 million to date.

InfStones was founded in 2018 as a staking and infrastructure platform, providing services to institutional clients.

The company dubs itself as a “Platform-as-a-Service,” supplying blockchain infrastructure to Web3 innovators while boasting support to over 10,000 nodes on a “rapidly growing” list of blockchains including Ethereum, Chainlink, Polkadot, Cardano and Solana.

“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,” Dennis Chang, managing partner at Softbank Investment Advisers, said.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screen Shot 2024-05-16 at 14.53.45.png


Loss-versus-rebalancing (LVR) is arguably Ethereum DeFi’s biggest problem, and thus reducing LVR is fundamental to the success of Ethereum. This report dives into the world of LVR. We uncover its importance for AMM designers, discuss the two major mechanism design categories and various projects developing solutions, and offer a higher level perspective on the importance of AMMs in general.


Yesterday saw Congress’ upper chamber side with the House on a measure aimed at overturning SAB 121


Oklahoma’s new crypto bill will go into effect in November of this year


The deposits hit a $20 million cap in just 45 minutes


Twelve Democratic Senators voted in favor to pass the resolution Thursday

article-image is “aware” that bonding curve contracts on were exploited, and has since paused trading


Some investment pros are mulling crypto allocations between 1% and 10% and seeking ex-BTC exposure for interested clients