Canadian Web3 infrastructure company ChainSafe has closed an $18.75 million funding round that was backed by prominent industry venture firms, putting the company on track to expand operations at a time when demand for blockchain infrastructure and gaming services was on the rise.

The Series A round was led by venture firm Round13 with additional participation from NGC Ventures, HashKey Capital, Sfermion, Jsquare, ConsenSys, Digital Finance Group and Fenbushi Capital. ChainSafe said the funding would go toward supporting the growth and adoption of Web3 technology.