HashQuark Closes Series A Funding Round, Led by Qiming Venture Partners
HONG KONG, July 29, 2020 /PRNewswire/ -- HashQuark, an Asian leading staking and blockchain infrastructure provider, has raised a Series A equity funding led by Qiming Venture Partners, a leading venture capital firm in China. The funding round was also joined by Fenbushi Capital, HashKey Capital, Hash Global, imToken Ventures, and SNZ. This move makes HashQuark one of the very few staking service companies to be able to raise a fund from a traditional venture capital firm. HashQuark is a subsidiary of HashKey Group, an international digital asset and blockchain technology firm.
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. For reference, "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 consistently 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 at providing high-quality PoS-backed blockchain projects with industry resources and ecosystem value along with technology support. This move has earned strong support from many project foundations.
For example, HashQuark, as one of the earliest participants of the Web3 ecosystem, is a validator (staker) on the Polkadot network validator node list, and has helped the Web3 Foundation launch PolkaCube, a new product focused on enabling 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, and more. 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, which has produced dozens of influential technical articles and in-depth research reports, contributing to communities such as Ethereum, Polkadot, Filecoin, and Cosmos.
HashQuark has 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), SlowMist Technology (a top cybersecurity team). HashQuark is providing high-quality services to the ecosystem businesses of HashKey Group.
Leo Li, CEO of HashQuark, said, "HashQuark started as a staking service provider with the focus on blockchain infrastructure construction, aiming to provide high-quality services to the digital financial world. 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. HashQuark will release innovative products to serve customers around Ethereum2.0, Polkadot, and PlatON and so forth. HashQuark will put digital financial world infrastructure as a core focus and launch other products successively."
Qiming Venture Partners has been an active early-stage VC investor in sectors including information technology, enterprise services, among others. Qiming has good track record of investing in innovative startups which would later achieve unicorn status. Qiming's investment in HashQuark, an IT infrastructure service provider in the blockchain industry, shows its interest in the emerging field.
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