SoftBank and GGV lead $66 million round for Web 3 infrastructure company InfStones

SoftBank and GGV lead $66 million round for Web 3 infrastructure company InfStones

The provider of an Amazon Web Services-like platform last raised $33 million in February.

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

The new capital will help InfStones grow its team, expand its blockchain infrastructure solutions, expand into new markets and pursue potential partnerships and acquisitions, according to a press release obtained by CoinDesk.

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

InfStones provides an Amazon Web Services-like node management platform and application programming interface (API) for Web 3 developers. The platform provides access to protocol consensus and proof-of-stake benefits, as well as the ability to run validation nodes, access on-chain data, and build decentralized multi-chain applications. InfStones supports nodes on BNB Chain, Cardano, Chainlink, Ethereum, Polkadot, Polygon, and Solana.

InfStones CEO Dr. Zhenwu Shi previously told CoinDesk that the company has been 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 easy for customers to participate in Web 3 and decentralized finance," SoftBank CEO Dennis Chang said in the statement.

InfStones' competitors, which offer AWS-like services for Web 3, have also attracted investor interest this year, with Blockdaemon raising $207 million at a $3.25 billion valuation in January and Alchemy raising $200 million at a valuation of more than $10 billion the following month.