CRYPTO

Blockdaemon secures unicorn status to raise $ 155M

Blockchain infrastructure developer Blockchain has reaffirmed its status as a crypto unicorn after completing the 5 155 million Series B fundraiser, leading the company to significantly expand its operational footprint.

With Series B now closed, BlockDemon’s valuation has risen to $ 1.255 billion, the company announced this week. The company has raised just 1 million in the latest funding round, led by Softbank Vision Fund 2.

The capital injection will be used to further expand the DFI infrastructure and bridge the gap between digital assets and traditional thematic banking, said Konstantin Richter, founder and CEO of BlockDemon. The company noted that in the last 90 days, it has more than doubled the number of nodes it operates to 18,000.

Blockchain provides blockchain infrastructure services on a number of networks, including Ethereum, Solana, Cardano and Polcadot.

Blockchain infrastructure providers have seen their value increase due to the growing mainstream and institutional interest in digital assets. As Cointelegraph reported, Canada-based Bitcoin (BTC) infrastructure provider Blockstream completed a 210 million investment in August, bringing the total value to 3.2 billion. The company followed that announcement by partnering with a major Australian investment bank in the vicinity of a new carbon-neutral mining facility.

Related: Biden’s infrastructure bill does not undermine Crypto’s bridge in the future

Blockchain technology entered the U.S. infrastructure bill last month, although many did not live up to expectations. As digital resources become more mainstream, the technology that relies on them can be seen as a growing infrastructure.