Sunday , May 22 2022
Home / Blockchain / Crypto Infrastructure Company Blockdaemon Raised $207M From Tiger Capital and SoftBank

Crypto Infrastructure Company Blockdaemon Raised $207M From Tiger Capital and SoftBank

Summary:
The blockchain infrastructure firm – Blockdaemon – raised 7 million in a Series C funding round led by Tiger Capital and Sapphire. Following the investment, the company increased its post-money valuation at .25 billion. Blockdaemon’s Expansion The California-based organization finished 2021 on a positive net income trend and recently hired 150 full-time employees – mainly engineers. It also expanded its scope to Germany and Singapore. According to a recent press release, the company secured a multimillion funding round that included prominent investors like Tiger Capital, Sapphire, SoftBank Vision Fund 2, Matrix Capital Management, and StepStone Group. Mike Novogratz’s Galaxy Digital also joined the initiative. As a result, Blockdaemon’s post-money valuation surged to

Topics:
Dimitar Dzhondzhorov considers the following as important: , ,

This could be interesting, too:

Jay Zhuang writes a16z Launches a 0 Million Game Fund Backed by Roblox and Blizzard

Arun Srivastav writes Indian Crypto Industry Reps Call for Reduction in Certain Taxation Rules

Dimitar Dzhondzhorov writes SEC Chair Predicts Other Cryptocurrencies Will Mimic Terra’s Downfall and Harm Investors

Chayanika Deka writes New Milestones for Ethereum as Ropsten Public Testnet Merge Date Revealed

The blockchain infrastructure firm – Blockdaemon – raised $207 million in a Series C funding round led by Tiger Capital and Sapphire. Following the investment, the company increased its post-money valuation at $3.25 billion.

Blockdaemon’s Expansion

The California-based organization finished 2021 on a positive net income trend and recently hired 150 full-time employees – mainly engineers. It also expanded its scope to Germany and Singapore.

According to a recent press release, the company secured a multimillion funding round that included prominent investors like Tiger Capital, Sapphire, SoftBank Vision Fund 2, Matrix Capital Management, and StepStone Group. Mike Novogratz’s Galaxy Digital also joined the initiative.

As a result, Blockdaemon’s post-money valuation surged to $3.25 billion, while in September 2021, the firm was valued at $1.3 billion.

Commenting on the matter was Jai Das – President and Partner at Sapphire:

“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.”

Blockdaemon is a leader in the crypto space, offering users node operations and infrastructure tooling for blockchain projects. The company supports numerous networks, including Ethereum, Bitcoin, Solana, Polkadot, Terra, Cardano, Cosmos, and more through its Blockdaemon Marketplace.

Separately to the funding round, the firm partnered with StakeWise to create a Know Your Customer (KYC)-based staking solution for its clients. The collaboration will allow them to utilize staked capital for lending, borrowing, and liquidity provision on interest rates via DeFi applications.

Blockdaemon Creates a DeFi Fund

The company also revealed it will establish a DeFi Fund, intending to reinvest earned assets into institutional-grade offerings while creating CeFi options for customers. Additionally, It will use the fund to make structured investments in the cryptocurrency ecosystem.

Nagraj Kashyap – Managing Partner at SoftBank Investments Advisers – opined that the expansion of the digital asset industry requires “secure, critical infrastructure.”

“We are thrilled to continue our partnership with Blockdaemon as it expands the platform to fill much-needed gaps and make the crypto ecosystem more viable and secure,” he added.

In turn, Konstantin Richter – CEO and Founder of Blockdaemon – asserted that his organization is committed to the future of Decentralized Finance. It also aims to increase its presence in the crypto space and boost the entire blockchain universe.

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *