Blockchain Startup InfStones Raises $10M in Series A Funding Round

The blockchain infrastructure platform is betting on the "proof-of-stake" model.

AccessTimeIconAug 24, 2021 at 11:00 a.m. UTC
Updated Sep 14, 2021 at 1:44 p.m. UTC

Blockchain infrastructure startup InfStones raised $10 million in a Series A funding round that was led by Shanghai-based Qiming Ventures and included investments from DHVC, HashKey Capital, Plug and Play, SNZ Holdings and the family office of entrepreneur Liang Xinjun, a co-founder and former CEO of Chinese conglomerate 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 multiple blockchain networks such as Binance Smart Chain, Cardano, Chainlink, Ethereum, Polkadot, Polygon and Solana.
  • Crypto exchange Binance, blockchain infrastructure provider imToken and Dune Analytics use the platform.
  • InfStones is betting on proof-of-stake (PoS) networks, such as the one used in the upcoming Ethereum 2.0, as becoming the "go-to" consensus mechanism, the startup's CEO, Zhenwu Shi, said in a statement to CoinDesk.
  • PoS is less energy intensive that the proof-of-work (PoW) model used by the Bitcoin blockchain and the current iteration of Ethereum.
  • Shanghai-based Qiming Ventures is an established tech venture-capital firm in China, and HashKey Capital is a Hong Kong-based blockchain VC.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC