Someone is finally seriously building infrastructure in the Solana ecosystem, which is touching—not just the kind that only issues tokens.

CryptoWorld News reports that Solmate Infrastructure announced it has raised approximately $11.4 million through a direct registration offering, issuing 2.3M Class B common shares at a price of $4.97 per share. The company plans to use the proceeds for general corporate purposes, including further development of its Solana infrastructure projects, financial operations, and balance sheet strengthening. Solmate also stated that the new funds will help expand its Solana staking, validator, and infrastructure projects in Abu Dhabi and other regions.