SoftBank Backs Blockchain Infrastructure Provider InfStones in $66M Round

Blockchain infrastructure provider InfStones has raised $66M in a new funding round. It was led by SoftBank through Vision Fund 2 and GGV Capital.

The round was attended by INCE Capital, 10T Fund, SNZ Holding and A&T Capital.

The team will use the raised funds to expand and scale the project. In particular, the supplier plans to increase staff, enter new markets and enter into new partnership agreements.

“Our vision is to provide a robust and easy-to-use Web 3.0 environment to create a more transparent and intelligent world. We intend to promote the rapid and global adoption of decentralized applications,” said Zhenwu Shi, CEO of the firm.

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

InfStones works on the principle of “platform-as-a-service” (platform-as-a-service, PaaS). The infrastructure is built on the basis of artificial intelligence, and the company’s clients include Binance, Coinlist, BitGo, OKX, Chainlink, Polygon and others.

Recall that Morgan Stanley analysts called the high activity of venture investors, despite the deep market correction.

Earlier, JPMorgan expressed the opinion that the crypto winter will be short-lived due to the influx of venture capital into the industry.

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