Pharos Network completes $44 million Series A funding

金色财经_ · 2026-04-08T22:12:38+00:00

Golden Finance reports that Pharos Network announced the completion of a $44 million Series A funding round on April 8, with the goal of accelerating the development of on-chain real-world asset infrastructure. The funding was led by multiple institutions, bringing the total funding amount to $52 million. The testnet is scheduled to launch in May 2025.

金色财经_

2026-04-08 22:12:38

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Golden Finance reports that on April 8, Layer 1 blockchain network Pharos Network, targeting institutional-level financial scenarios, announced the completion of a $44 million Series A round, co-led by multiple undisclosed top-tier institutions, including an Asia private equity fund, a publicly listed new energy company, and a compliant financial institution in Hong Kong. Investors also include Sumitomo Corporation’s subsidiary, crypto-native firm SNZ, Chainlink, and Flow Traders. The funds will be used to accelerate the buildout of real-world asset (RWA) infrastructure on-chain across Asia and globally.
Before this round of financing, Pharos had already completed an $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with other investors participating in the round as co-investors. As a result, its cumulative total funding reached $52 million. Pharos testnet went live in May 2025, and developers can build and test applications on this platform.

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