A startup providing blockchain development tools, recently raised $60 million in series b funding. the funding round was led by 10t holdings, a blockchain-focused investment house, and included participation from tiger global, seven seven six from reddit co-founder alexis ohanian, protocol labs, and qed. this investment round resulted in a $800 million valuation for quicknode.
the funding round took place in the fourth quarter of 2022, during a time when the total capital invested in the crypto and blockchain space was the lowest it had been in two years. despite the market turbulence, quicknode’s co-founder and ceo alex nabutovsky remained optimistic and expressed excitement for the platform’s adoption over the past few months.
the funding was used to fuel quicknode’s global expansion, double down on global hiring, host community-driven events and workshops, and develop the quicknode marketplace. investors were eager to back the company’s vision of providing useful tools and infrastructure to empower the next wave of web3 builders, as blockchain adoption and development continue to increase year-over-year. nabutovsky predicted that there will be mass adoption of blockchain technology in 2023 and throughout the rest of the decade.