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Blockchain startup QuickNode raises $35m in Series A funding round

Artifact Labs

TL;DR Breakdown

  • Blockchain startup raises $35m in funding round.
  • QuickNode working on developing Web 3.
  • Firm to use fund expand on its product and services.

American-based blockchain startup, QuickNode has hit the jackpot in its recent Series A funding round after it made $35 Million.

QuickNode blockchain startup builds technologies to support Ethereum, Bitcoin, Polygon, Binance Smart Chain, and Solana ecosystems. On Wednesday, the startup announced that its financing round was led by Tiger Global venture capital firm focused on investments for the internet, software, consumer, and financial technology industries.

Beyond Tiger Global venture capital, Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and angel investor Anthony Pompliano also participated in the funding round. All future blockchain development needs optimum funding.

The Blockchain startup has raked in over $40m in the funding round as it made $5.3 million in investments during its initial seed round in March 2021. A QuickNode executive described the funding round as a major milestone that would help them deliver on their vision of growth in Web 3.

“This round is a major milestone that helps us deliver on our vision of growth in Web 3 through better infrastructure, improved tooling, and greater accessibility across all blockchains,” QuickNode Vice President Amol Shah said.

The company said it would use the new funds to expand its product offerings and support new chains, which it has done at a pace of “about one per month” since March.

Blockchain startup QuickNode to aid crypto tech adoption

One of the investors, Alexis Ohanian, said the startup lives to enable more individuals and businesses to adopt blockchain technology easily.

The blockchain startup works with a wide array of clients, ranging from non-fungible token (NFT) platforms like Rarible to traditional financial institutions, according to the company.

Its foray into crypto has made firms like Trading View, CertiK’s security platform, MoonPay among others participate in its financing rounds.

“Blockchain and cryptocurrency are eating the world. We are seeing businesses from all verticals looking at a blockchain-enabled software roll out in 2022 and beyond. It’s beautiful to see the foundation of the new internet happening right before our eyes.” shared Alex Nabutovsky, co-founder of QuickNode.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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