Blockchain Infrastructure startup Blockdaemon Raises $207 Million in Series C funding


Blockdaemon, a New York based institutional-grade blockchain infrastructure company for node management and staking, has now secured $207 million in a Series C funding round at a valuation of around $3.25 billion.

Blockdaemon was founded by Konstantin Richter. It is an independent blockchain node infrastructure to scale, stake and deploy nodes with institutional-grade security and monitoring.

It supports more than 50 blockchain networks which include Bitcoin, Polkadot, Solana, Eth2, SKALE, MobileCoin and Cosmos. The company helps to power the blockchain economy by simplifying the process of deploying nodes and creating scalable enterprise blockchain solutions with the help of APIs, auto decentralization, high availability clusters and auto-healing of nodes.

Executive Opinion

Konstantin Richter, CEO and Founder of Blockdaemon, said, "Over the last 12 months Blockdaemon has seen massive growth across all metrics and raised substantial capital to continue bridging institutions onto protocols in a safe and secure manner. We remain committed to leading the way to overall network resilience and open source tooling development as this field of innovation continues to change the way value traverses the world."

Jai Das, President and Partner at Sapphire, said, "The digital asset class is here to stay, especially as financial services and publicly traded companies continue to enter the fray. The challenge is that the growing demand for digital assets requires enterprise-grade infrastructure to enable secure, compliant and scalable participation in Web3/DeFi, which is why Blockdaemon's institutional node management and staking platform is so exciting to us at Sapphire. We’re thrilled to once again back founder and CEO Konstantin Richter and the Blockdaemon team, leading the company’s Series C, as they support the staking of billions of assets across +25 proof-of-stake blockchain networks with a bold vision of becoming the one-stop shop for institutional crypto yield generation."

Blockdaemon's Latest Funding

The round was backed by Tiger Global and Sapphire. Other participating investors include Boldstart Ventures, StepStone Group, Lerer Hippeau, SoftBank Vision Fund 2, and Matrix Capital Management.

The company, as of now, has plans to use the new funds to accelerate strategic acquisitions, launch a fund to reinvest earned assets and continue to enhance its full stack product suite.
PC: Pixabay

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)