Chainstack Secures Strategic Investments to Accelerate Web3 Infrastructure Development - Latest Global News

Chainstack Secures Strategic Investments to Accelerate Web3 Infrastructure Development

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Chainstack secures key investments to support Web3 infrastructure development from SBI Ven Capital, Sygnum, Azimut Group, Unicorn Factory Ventures and Ventech Ventures

SINGAPORE, May 15, 2024 (GLOBE NEWSWIRE) — Chainstack, a frontrunner among the world’s top three Web3 infrastructure providers, has successfully secured strategic investment from SBI Ven Capital, Sygnum, Azimut Group, Unicorn Factory Ventures and Ventech Ventures. This investment will enable significant advancements in the company’s product offering, with a particular focus on improving core product offerings, customer usability and automation.

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In just two and a half years, Chainstack has grown from a promising startup to a profitable global company, establishing itself as a fundamental player in the ever-evolving Web3 landscape. This journey has not only made Chainstack one of the top three Web3 infrastructure providers, but has also demonstrated its robust platform, unwavering commitment to quality, and the deep trust it has built within the developer community.

Chainstack’s offering is extensive and includes integrations with over 25 public blockchains, four Appchain frameworks, four consortium protocols, and partnerships with all major cloud providers. These diverse options serve more than 100,000 Web3 developers, ensuring they have the essential tools to innovate and scale their projects without limitations. This approach highlights Chainstack’s central role in shaping the future of blockchain technology, enabling developers to push boundaries and build transformative applications.

Geographically, Chainstack’s operations span 12 regions and aligns its infrastructure with the distribution of its user base. This strategic placement allows the company to efficiently process over 100 billion requests per month while maintaining an impressive uptime of over 99.99%. Such reliability and performance optimization are crucial for developers building DApps on the platform, ensuring seamless functionality and improved user experiences.

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Beyond infrastructure, Chainstack is committed to improving customer experience and automating processes. The team continuously strives to set new industry standards for performance, reliability, cost efficiency and developer support. Securing additional capital not only recognizes the company’s past successes, but also creates the basis for future innovations.

This influx of resources is expected to trigger revolutionary changes in the global use of blockchain technologies and promises exciting developments in the Web3 space. Chainstack is clearly on the path to not only participate in the future of blockchain, but to significantly shape it.

“Chainstack’s exceptional ability to simplify blockchain infrastructure for both Asia and the global market sets new standards for the industry.” – Kevin Low, SVP at SBI Ven Capital

The investment will be used strategically to enhance Chainstack’s core product offering and strengthen its position as a trusted, foundational blockchain infrastructure provider. The focus is on refining and expanding the core functionalities that have made Chainstack a leader in blockchain infrastructure.

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This focus aims to improve and build on the established fundamentals that make Chainstack a preferred choice for blockchain solutions. Other important areas of investment include:

  • Customer benefit: Make the platform even more user-friendly, based on direct user feedback and market needs.
  • Automation: Increasing the automation of processes to streamline operations and improve the efficiency of all services.

These initiatives reflect Chainstack’s commitment to building a robust and user-friendly platform that not only meets but anticipates the needs of its users.

“As a fund deeply rooted in Web3, we recognize Chainstack’s potential to revolutionize decentralized technology. Chainstack’s infrastructure solutions are poised to drive unprecedented growth and innovation for the industry.” – Anton Vasilev, Managing Partner, Unicorn Factory Ventures.

The current state of Web3 is a harbinger of fresh capital and growth opportunities. At Chainstack, the team is optimistic about this trend and recognizes the potential to drive their customers’ success and therefore their growth. And as they embark on this exciting new chapter, your invitation to join them on an exciting journey to redefine the digital asset infrastructure of tomorrow is already in your hands.

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“This investment marks a milestone in Chainstack’s journey and confirms our position as a sustainable market leader for Web3 infrastructures. Looking forward, we are empowered to continue our mission of simplifying blockchain technology for builders around the world, driven by our customers’ feedback and our commitment to an exceptional developer experience. “In addition, we expect a significant shift in the blockchain infrastructure market towards commercialization, which we believe will result in better value for money and improved accessibility, which will greatly benefit both users and developers.” – Jan-Jaap Jager, CEO, Chainstack

In summary, Chainstack’s recent influx of strategic investments underscores a significant shift toward improving performance and reducing costs in Web3 infrastructure. The capital will primarily go toward refining Chainstack’s core features, improving system efficiency, and optimizing operating costs.

This focus aims to achieve the dual goal of maintaining high performance and gradually reducing prices. Such strategic initiatives are expected to not only benefit Chainstack’s extensive user base by providing added value, but also strengthen Chainstack’s position as a leader in the blockchain infrastructure market.

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By driving these innovations, Chainstack will shape the future landscape of blockchain technology, ensuring it remains both cutting-edge and accessible to developers around the world. Learn more about Chainstack and how it simplifies blockchain for developers here: https://chainstack.com/.

About Chainstack

Chainstack offers an unlimited Web3 development stack for building applications of any scale, including DeFi, NFT, gaming, analytics, and more. Tailored to both startups and large enterprises, Chainstack enables thousands of companies to significantly reduce the time to market, costs, and risks associated with developing and scaling decentralized applications. With our robust, globally distributed infrastructure solutions, we ensure innovators can focus on developing transformative solutions efficiently and effectively.

Chainstack Media Contact:

Maksim Solovyev, Vice President of Product Marketing

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d7a65eac-071b-47ac-9ff5-cacfec6780c2


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