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

In a Series C round, Tiger Capital and Sapphire led the funding round for Blockdaemon, a blockchain infrastructure company. The funding raised $207 millions. The company’s post-money value was increased to $3.25 billion after the investment.

Blockdaemon’s expansion

California-based company finished 2021 with a positive net income trend. It recently hired 150 full-time workers, mainly engineers. It has also expanded its reach to Germany and Singapore.

A recent press release stated that the company raised multimillions from prominent investors, including Sapphire, SoftBank Vision Fund 2, Matrix Capital Management and Tiger Capital. Galaxy Digital, Mike Novogratz, also joined the effort.

Blockdaemon’s post money valuation soared to $3.25 Billion, and the firm was valued at $1.3 Billion in September 2021.

Jai Das, President and Partner at Sapphire, commented on the matter:

The digital asset class will be around for the long-term, particularly as more financial services and publicly traded companies enter the market. To meet the increasing demand for digital assets, enterprise-grade infrastructure is required to allow secure, compliant, and scalable participation in Web3/DeFi.

Blockdaemon, a leader in crypto space, offers node operations and infrastructure tools for blockchain projects. Through its Blockdaemon Marketplace, the company supports many networks including Ethereum, Bitcoin and Terra.

The firm also partnered with StakeWise in order to provide a Know Your Customer (KYC-based) staking solution to its clients. They will be able to use staked capital to lend, borrow, and provide liquidity on interest rates via DeFi apps.

Blockdaemon creates a DeFi fund

It also announced it would establish a DeFi Fund to reinvest earned assets in institutional-grade offerings and create CeFi options for customers. The fund will also be used to make structured investments within the cryptocurrency ecosystem.

Nagraj Kashyap, Managing Partner at SoftBank Investments Advisers, stated that expansion of the digital asset sector requires “secure and critical infrastructure.”

He said, “We are delighted to continue our partnership With Blockdaemon as the platform expands to fill much-needed holes and make the cryptocurrency ecosystem more viable and safer.”

Konstantin Richter, CEO and Founder at Blockdaemon, stated that his company is committed to the future decentralized finance. It also plans to expand its presence in crypto and promote the whole blockchain community.

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