Credit: HashQuark

BEIJING, July 29 (TMTPOST)—HashQuark, an Asia-based leading staking and blockchain infrastructure service provider, has completed its Series A equity funding led by Qiming Venture Partners, a top China-based venture capital firm, making HashQuark one of the few staking service providers that attracted investments from a traditional VC firm.

The proceeds of the A-Series founding will be used to beef up human resources and accelerate global business expansions. The amount of funds raised was not disclosed.

“The proceeds of the round will be used to strengthen our team and expand globally. This year is a critical time for the large-scale application of blockchain and digital finance,” said the company’s CEO Leo Li. “HashQuark will release innovative products to serve customers around Ethereum2.0, Polkadot, and PlatON and so forth.”

The funding round was also joined by Fenbushi Capital, HashKey Capital, Hash Global, imToken Ventures and SNZ. HashQuark is a subsidiary of HashKey Group, an international digital asset and blockchain technology firm.

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in China and the United States. Currently Qiming Venture Partners manages nine U.S. Dollar funds and five RMB funds with U.S.$5.3 billion assets under management. Since its inception, the venture capital firm has been investing in TMT and healthcare sectors. 

Since the end of 2018, HashQuark has been developing its blockchain infrastructure business, creating value while safeguarding PoS blockchains by operating reliable nodes. Relying on its abundant industry resources and a professional technical team, HashQuark has become one of the world's largest staking service providers. “Staking” refers to the activity of supporting a PoS blockchain network by validating its transaction and receiving rewards in return.

Through its globally deployed infrastructure and its always-on staking service network, HashQuark offers secure, stable and convenient enterprise-grade staking services, running blockchain nodes for over 30 Proof-of-Stake (PoS) blockchains.

According to StakingRewards.com, one of the world's most credible PoS rating websites, HashQuark ranks among the top three in terms of the number of networks served, product functionality, business footprint, product safety, and comprehensive capabilities.

In addition, HashQuark pioneered the concept of "Staking + ecosystem provider", aiming to provide high-quality PoS-backed blockchain projects with industry resources and technology support. This move has earned strong support from many project foundations.

HashQuark, as one of the earliest participants of the Web3 ecosystem, is a validator or staker on the Polkadot network validator node list, and has helped the Web3 Foundation launch PolkaCube, a new product that offers a better staking experience for validators and nominators of the Polkadot ecosystem. Its features include complete blockchain data display, guidance on optimal staking strategies, wallet and delegation management, etc. HashQuark’s PolkaCube won a grant from the Web3 Foundation.

HashQuark, in addition to its product development team, has a professional research team focusing on economic models and blockchain technology. The research team has produced dozens of influential technical articles and in-depth research reports, contributing to communities such as Ethereum, Polkadot, Filecoin, and Cosmos.

HashQuark has established strategic partnerships with a number of world-leading blockchain teams, including imToken (a world-renowned decentralized blockchain wallet), Infinito Wallet (a well-known blockchain wallet in Vietnam), Block72 (a well-known blockchain consulting company in South Korea), LongHash (an accelerator platform) and SlowMist Technology (a top cybersecurity team). HashQuark is providing high-quality services to the ecosystem businesses of HashKey Group.