Chainstack secures key investment to fuel 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 top three global Web3 infrastructure providers, has successfully secured a 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 offerings, particularly focusing on enhancing core product offerings, customer usability, and automation.

In just two and a half years, Chainstack has transformed from a promising startup into a profitable global enterprise, marking its territory as a foundational player in the ever-evolving Web3 landscape. This journey has not only positioned Chainstack among the top three Web3 infrastructure providers but has also showcased its robust platform, unwavering commitment to quality, and the deep trust it has cultivated within the developer community.

Chainstack's offerings are extensive, encompassing integrations with over 25 public blockchains, four appchain frameworks, four consortium protocols, and partnerships with all major cloud providers. This diverse range of options serves more than 100,000 Web3 developers, ensuring they have the essential tools to innovate and scale their projects without constraints. This approach underscores Chainstack's pivotal role in shaping the future of blockchain technology, enabling developers to push boundaries and create transformative applications.

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

Beyond infrastructure, Chainstack is deeply committed to enhancing customer usability and automating processes. The team continuously strives to set new industry standards for performance, reliability, cost-efficiency, and developer support. The securement of additional capital not only celebrates the company's past achievements but also sets the stage for future innovations.

This influx of resources is poised to catalyze revolutionary changes in how blockchain technologies are utilized globally, promising exciting developments in the Web3 domain. Chainstack is clearly on a path to not just 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 is setting new standards for the industry." - Kevin Low, SVP at SBI Ven Capital

The investment will be strategically deployed to enhance Chainstack's core product offerings and to bolster its position as a trusted, foundational blockchain infrastructure provider. This will center on refining and expanding the fundamental functionalities that have positioned Chainstack as a leader in blockchain infrastructure.

Such focus aims to enhance and build upon the established foundations that make Chainstack a preferred choice for blockchain solutions. Other key areas of investment include:

• Customer usability: Making the platform even more user-friendly, based on direct feedback from users and the demands of the market.
• Automation: Increasing the automation of processes to streamline operations and improve efficiency across its 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, recognizing its potential to catalyze their customers' success and, in turn, 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.

"This investment marks a milestone in Chainstack's journey, confirming our position as a sustainable Web3 infrastructure leader. Looking ahead, we're invigorated to continue on our mission to simplify blockchain technology for builders all across the world, driven by customer feedback and our commitment to exceptional developer experience. Moreover, we anticipate a significant shift in the blockchain infrastructure market towards commoditization, which we believe will lead to better price performance and enhanced accessibility, greatly benefiting users and developers alike." - Jan-Jaap Jager, CEO, Chainstack

In conclusion, Chainstack's recent influx of strategic investments underscores a significant shift toward enhancing performance and reducing costs in Web3 infrastructure. The capital will be primarily directed towards refining Chainstack's core functionalities, improving system efficiencies, and optimizing operational costs.

This focus aims to meet the dual goals of sustaining high performance and progressively lowering prices. Such strategic initiatives are expected to not only benefit Chainstack's extensive user base by delivering superior value but also strengthen Chainstack's position as a leader in the blockchain infrastructure market.

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

About Chainstack

Chainstack delivers a limitless Web3 development stack to build applications for every scale, encompassing DeFi, NFT, gaming, analytics, and more. Tailored for both startups and large enterprises, Chainstack empowers thousands of companies to significantly reduce time to market, costs, and risks associated with developing and scaling decentralized applications. With our robust, globally distributed infrastructure solutions, we ensure that innovators can concentrate on crafting transformative solutions efficiently and effectively.

Chainstack Media Contact:

Maksim Solovyev, VP of Product Marketing

et@chainstack.com

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