Singapore-based Web3 infrastructure provider Chainstack has secured an undisclosed sum in strategic investment.
The investors are SBI Ven Capital, Sygnum, Azimut Group, Unicorn Factory Ventures, and Ventech Ventures.
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The company will use the money to advance its product offerings, mainly focusing on white-label solutions crucial for businesses entering the blockchain landscape. These include making the platform more user-friendly and automating the processes to streamline operations and improve efficiency across its services.
Founded in 2018, Chainstack offers a suite of services connecting developers with Web3 infrastructure, powering applications in DeFi, NFT, gaming, and analytics. Chainstack enables companies (from startups to large enterprises) to cut down the time to market, costs and risks associated with creating and scaling decentralised applications.
Chainstack’s offerings encompass integrations with over 25 public blockchains, four consortium networks, four appchain protocols, and partnerships with all major cloud providers. It serves over 100,000 Web3 developers.
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Geographically, Chainstack operates in 12 regions and handles over 100 billion requests monthly.
“We anticipate a significant shift in the blockchain infrastructure market towards commoditisation, which we believe will lead to better price performance and enhanced accessibility, greatly benefiting users and developers alike,” Chainstack CEO Jan-Jaap Jager.
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