Blockdaemon has become a crypto unicorn after raising $155 million in Series B funding, allowing it to significantly extend its operational reach.
In the realm of venture capital, a privately owned startup business is referred to as a “unicorn” if its market capitalization exceeds $1 billion.
Blockdaemon’s valuation has increased to $1.255 billion as a result of the completion of Series B, the business said this week.
To date, the firm has attracted little less than $190 million in capital, with the most recent round of funding spearheaded by the Softbank Vision Fund 2. Goldman Sachs, Kraken Ventures, Morgan Creek Digital, CoinFund, Matrix Capital Management, and Sapphire Ventures were among the additional investors in the project.
A statement from Konstantin Richter, the founder and CEO of Blockdaemon, stated that the financial investment will be utilized to further extend the DeFi infrastructure and bridge the gap between digital assets and traditional banking.
During the previous 90 days, the company has more than doubled the number of controlled nodes it has, bringing the total to 18,000.
The increasing interest in digital assets among the general public and financial institutions has resulted in a rise in the value of blockchain infrastructure providers.
Following the completion of a $210 million financing round, Blockstream, a Canada-based Bitcoin (BTC) infrastructure provider, has raised its total valuation to an astounding $3.2 billion, as previously reported by Cointelegraph.
Following up on that statement, the company entered into a partnership with a large Australian investment bank to develop a new carbon-neutral mining operation.
Recently, blockchain technology was included in the Infrastructure Bill of the United States, however it was not in the form that many had hoped for. As digital assets become more widely used, the technology that enables them may grow to be regarded as more and more of a form of infrastructure.