When a privately held startup company’s valuation exceeds $1 billion, it is referred to as a “unicorn” in the venture capital world.
Blockdaemon, a blockchain infrastructure developer, has secured its status as a crypto unicorn after completing a $155 million Series B fundraising round, putting the company on track to significantly expand its operational footprint.
Blockdaemon’s valuation has risen to $1.255 billion following the completion of Series B, the company announced this week. To date, the company has raised slightly less than $190 million, with the most recent round led by the Softbank Vision Fund 2. Goldman Sachs, Kraken Ventures, Morgan Creek Digital, CoinFund, Matrix Capital Management, and Sapphire Ventures were among the other investors.
Blockdaemon’s founder and CEO, Konstantin Richter, stated that the capital injection will be used to expand DeFi infrastructure and bridge the gap between digital assets and traditional banking. The company stated that it has more than doubled its managed node count to 18,000 in the last 90 days.
Blockchain infrastructure services are provided by Blockdaemon to several networks, including Ethereum, Solana, Cardano, and Polkadot.
Blockchain infrastructure providers’ valuations have risen as a result of growing mainstream and institutional interest in digital assets. As previously reported by ULTCOIN365, Blockstream, a Canada-based Bitcoin (BTC) infrastructure provider, completed a $210 million investment round in August, bringing its total valuation to a whopping $3.2 billion. Following that announcement, the company announced a collaboration with a major Australian investment bank to develop a new carbon-neutral mining facility.
Last month, blockchain technology made its way into the United States infrastructure bill, albeit not in the way that many had hoped. As digital assets become more common, the technology that powers them may come to be regarded as infrastructure.