SoftBank backs InfStones in $66 million funding round

InfStones, a blockchain-infrastructure provider, объявил the raising of $66 million in a new funding round. It was led by SoftBank via Vision Fund 2 and GGV Capital.

Participants in the round were INCE Capital, 10T Fund, SNZ Holding and A&T Capital.

The funds will be used to expand and scale the project. In particular, the provider plans to grow its staff, enter new markets, and forge new partnerships.

“Our vision is to provide a reliable and easy-to-use Web 3.0 environment for a more transparent and intelligent world. We intend to facilitate rapid and global deployment of decentralized applications,” said InfStones CEO Женву Ши.

In February 2021, InfStones raised $33 million in a Series B round. Total funding to date has exceeded $100 million, according to the press release.

InfStones operates on a platform-as-a-service (PaaS) model. The infrastructure is built on artificial intelligence, and among the company’s clients are Binance, Coinlist, BitGo, OKX, Chainlink, Polygon and others.

Analysts at Morgan Stanley described venture-capital activity as high, despite the deep market correction.

Earlier at JPMorgan expressed the view that the crypto winter would be short-lived thanks to the influx of venture capital into the industry.

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