Blockchain infrastructure startup Infstones raised $10 million in a Series A funding round led by Shanghai-based Qiming Ventures, as well as investments from DHVC, HashKey Capital, Plug and Play, SNZ Holdings, and the family office of Liang Xinjun, former vice-chairman and CEO of Fosun International.
- The startup’s main product is a platform where users can run validator nodes, access on-chain data, and build decentralized applications across a variety of blockchain networks such as Ethereum, Binance Smart Chain, Cardano, Polygon, Polkadot, Solana, Chainlink and others.
- Binance, imToken and Dune Analytics use the platform.
- Infstones is betting on proof-of-stake algorithms, such as the one used in Ethereum 2.0. POS is becoming the “go-to” consensus mechanism, the startup’s CEO Shi Zhenwu said in a statement to CoinDesk.
- POS has been gaining ground in the last few months, and startups are entering the space.
- Shanghai-based Qiming Ventures is an established tech VC firm in China, with investments in smartphone maker Xiaomi, NYSE-listed grocery delivery firm Dingdong Maicai, China’s Quora-style platform Zhihu, and Bitmain co-founder Wu Jihan’s Matrixport.
- HashKey Capital is a Hong Kong-based blockchain VC with stakes in BlockFi, Animoca Brands, Cosmos, and Polkadot, according to its website and Crunchbase.
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