Blockdaemon, a blockchain firm that delivers crypto staking and node administration infrastructure, has raised $28 million in a Series A funding round. It came into existence on 08-June-21.

The round was led by Greenspring Companions, with contributions from Goldman Sachs, BlockFi, Voyager Digital, Uphold, and others. Goldman Sachs, in specific, invested $5 million, Blockdaemon founder and CEO Konstantin Richter told The Block. The bank will also link Blockdaemon as "board observers," stated Richter.

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Blockdaemon's existing investors, together with CoinShares, Borderless Capital, and Blockchain.com Ventures also contributed to Series A. With fresh capital at hand, Blockdaemon strategies to double its headcount to 100 by the end of this year by signing mostly engineers, Richter told The Block.

Blockdaemon, the leading self-governing blockchain infrastructure platform driving 25 million registered users through the platforms they support. It has broadcast that it has closed $28 million in its Series A funding round, led by Greenspring Associates.

Blockdaemon is the opening layer to the blockchain industry, allowing participants to stake and deploy nodes with institutional-grade security, scalability, and consistency. This is with the support of 40+ cutting edge blockchain networks including ETH 2.0, Cardano, Bitcoin, Polkadot, MobileCoin, and the Lightning Network in the cloud and on-premise through the Blockdaemon Marketplace.

Blockdaemon offers access to new financial infrastructure for the variability of market participants, from large financial institutions. It helps in exchanges and custodians to small, active crypto native firms and developers. It is reliable across the blockchain ecosystem including the industry’s leading networks, enterprises, exchanges, custodians, and funds. With a 10x development in revenue later the beginning of the year, Blockdaemon plans to hurry future growth through targeted acquisitions.

These clients trust Blockdaemon's betting infrastructure to let their end users earn yields on their coin holdings. Blockdaemon says it has deployed over 10,000 nodes through 40 blockchain networks and global regions.

The Series A brings Blockdaemon's complete funding to date to around $40 million, Richter told The Block. He failed to comment on the firm's valuation. As for Goldman Sachs, the megabank also invested in crypto data firm Coin Metrics last month.

Shivangi Mujumdar

CBW - External Analyst

INDIA