As per the latest reports, Blockdaemon has made an announcement in regards to the funding round. Blockdaemon, an infrastructure developer for the blockchain system, has announced that it has successfully concluded a Series B funding round.
From the funding round, the firm has managed to raise $155 million. While the funding round has helped it achieve a milestone of accumulating such high funds, it has also achieved another major goal. The firm has revealed that as a result of the funding round, its market capitalization has crossed the $1 billion mark. As a result, Blockdaemon has successfully earned the status of being a unicorn.
Unicorn is a status that is given to a firm within the cryptocurrency industry when it manages to accumulate a market capitalization of at least $1 billion. Now, Blockdaemon is among the list of unicorns within the cryptocurrency industry with such a high market capitalization.
The infrastructure development firm has announced that with the funds raised from the funding round, it will be expanding its operations. It will be expanding its footprint for operations in a very effective and efficient manner.
The firm has announced that following the $155 million funding round, the market capitalization of Blockdaemon is over $1.255 billion. The company has revealed that starting from its launch until the completion of the recent funding round, it has raised a total of $190 million worth of funds.
This means that from the Series A funding round, the maximum funding Blockdaemon raised was $35 million. This is a great development recorded by Blockdaemon, as it has managed to generate an extremely high figure from the recent funding round.
Blockdaemon has revealed that Softbank Vision Fund 2 was responsible for leading the recent funding round for Blockdaemon. There were several investors who participated in the recent funding round, making it a huge success. Some of the major investors included Sapphire Ventures, Matrix Capital Management, CoinFund, Morgan Creek Digital, Kraken Ventures, and Goldman Sachs.
The CEO and founder of Blockdaemon, Konstantin Richter stated that the funding they have raised is going to go a long way within the decentralized finance industry. They will be able to expand the infrastructure for the decentralized finance sector.
Furthermore, they have always hoped to build the gap between the traditional banking and digital assets industry. Therefore, their efforts will involve the expansion of the industry building a bridge between the sectors.
The firm has revealed that in the past 90 days, it has increased the number of nodes it manages. The firm has now increased its nodes’ coverage from 8,500 nodes to 18,000 nodes. As of now, Blockdaemon is providing its infrastructure services to different networks such as Polkadot, Cardano, Solana, and Ethereum.