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Blockdaemon is aware of a decentralized future and is therefore on a mission to connect institutions with the blockchain network safely and securely.
Blockdaemon is aware of a decentralized future and is therefore on a mission to connect institutions with the blockchain network safely and securely. Amidst the sliding crypto performance, big investments in the crypto space continue with more and more entities reaching unicorn status. As per the announcement by blockchain infrastructure company, Blockdaemon, it has reached a valuation of $3.25 billion post its Series C funding round that helped it raise $207 million.
Tiger Global and Sapphire commanded this round alongside participation from existing investors such as Boldstart Ventures, Matrix Capital Management, StepStone Group, Softbank Vision Fund 2*, Kenetic and Lerer Hippeau. Galaxy Digital was the newest entrant to the investor club.
Blockdaemon’s Investment Journey till Now and the Way Forward
Blockdaemon’s investment journey proves the growing blockchain ecosystem and the importance of the institutional-grade infrastructure that the company provides. Its services range from node operations and infrastructure tooling to staking as a service. The investor belief in Blockdaemon can be deduced from its successful funding rounds starting with the Series A raising $28 million and later in September 2021, the Series B round that raised $155 million to make the company officially a unicorn at a $1.26 billion valuation. Amassing a total of $400 million in investment, the company has achieved growth across all dimensions.
Blockdaemon is aware of a decentralized future and is therefore on a mission to connect institutions with the blockchain network safely and securely. To that effect, the company will be using the new proceeds towards developing a DeFi fund and Centralized Finance (CeFi) solutions that will help make structured investments on products and platforms related to the blockchain space. Besides, it is also entering strategic partnerships like the one with StakeWise to provide DeFi services on a KYC-only platform. The company in its announcement has stated that soon a test net will be available for the platform. It also spoke about its partnership with the Distributed Validator Technology (DVT)-based Obol Labs.
Blockdaemon is a blockchain infrastructure firm that works as a deployment facilitator to offer node management and infrastructure tooling services. Its products and services are used by different entities like crypto exchanges, platforms, custodians, financial institutions and developers to connect institutional stakeholders with blockchains. It aims towards eliminating the complexities around blockchains by offering easy configuration coupled with high-quality service and enterprise-level security.
It has its origins in the experience of its founder Konstantin Richter and was established in the year 2017. Headquartered in Los Angeles, Blockdaemon is on a mission to improve the experience of financial institutions accessing blockchain through its node stack full of products and services built on open-source networks. Infura, Alchemy and Aave are some of its competitors, who like Blockdaemon, have been ushering in multiple investments from firms getting aware of this new digital asset class. The change has already begun towards attaining a decentralized & global financial future.