diff --git a/packages/nocodb/src/lib/meta/api/utilApis.ts b/packages/nocodb/src/lib/meta/api/utilApis.ts
index dfe70e7ec1..750e980590 100644
--- a/packages/nocodb/src/lib/meta/api/utilApis.ts
+++ b/packages/nocodb/src/lib/meta/api/utilApis.ts
@@ -4,11 +4,18 @@ import { Request, Response } from 'express';
 import { packageVersion } from 'nc-help';
 import ncMetaAclMw from '../helpers/ncMetaAclMw';
 import SqlMgrv2 from '../../db/sql-mgr/v2/SqlMgrv2';
-import NcConfigFactory, { defaultConnectionConfig } from '../../utils/NcConfigFactory';
+import NcConfigFactory, {
+  defaultConnectionConfig,
+} from '../../utils/NcConfigFactory';
 import User from '../../models/User';
 import catchError from '../helpers/catchError';
 import axios from 'axios';
 
+const versionCache = {
+  releaseVersion: null,
+  lastFetched: null,
+};
+
 export async function testConnection(req: Request, res: Response) {
   res.json(await SqlMgrv2.testConnection(req.body));
 }
@@ -46,19 +53,31 @@ export async function appInfo(req: Request, res: Response) {
 }
 
 export async function versionInfo(_req: Request, res: Response) {
-  const result = await axios
-    .get('https://github.com/nocodb/nocodb/releases/latest')
-    .then((response) => {
-      return {
-        currentVersion: packageVersion,
-        releaseVersion: response.request.res.responseUrl.replace(
+  if (
+    !versionCache.lastFetched ||
+    (versionCache.lastFetched &&
+      versionCache.lastFetched < Date.now() - 1000 * 60 * 60)
+  ) {
+    versionCache.releaseVersion = await axios
+      .get('https://github.com/nocodb/nocodb/releases/latest', {
+        timeout: 5000,
+      })
+      .then((response) =>
+        response.request.res.responseUrl.replace(
           'https://github.com/nocodb/nocodb/releases/tag/',
           ''
-        ),
-      };
-    });
+        )
+      )
+      .catch(() => null);
+    versionCache.lastFetched = Date.now();
+  }
 
-  res.json(result);
+  const response = {
+    currentVersion: packageVersion,
+    releaseVersion: versionCache.releaseVersion,
+  };
+
+  res.json(response);
 }
 
 export async function feedbackFormGet(_req: Request, res: Response) {
@@ -154,7 +173,7 @@ export async function urlToDbConfig(req: Request, res: Response) {
     connectionConfig = NcConfigFactory.extractXcUrlFromJdbc(url, true);
     return res.json(connectionConfig);
   } catch (error) {
-    return res.sendStatus(500)
+    return res.sendStatus(500);
   }
 }