Layer 1 Blockchain Pharos Network completes $44 million Series A funding, with participation from SNZ Holding and others.

ZkProver · 2026-04-08T12:16:57+00:00

Pharos Network has completed $44 million in Series A funding, and the funds will be used to build on-chain real-world asset infrastructure. This round was led by multiple top institutions that have not disclosed their identities, bringing total funding to $52 million. The testnet is expected to go live in 2025.

ZkProver

2026-04-08 12:16:57

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ChainCatcher message: According to official information, Pharos Network, a Layer 1 blockchain network for institutional-grade financial scenarios, has announced the completion of a $44 million Series A funding round, led jointly by multiple undisclosed leading institutions, including an Asia private equity fund, a listed new energy company, and a compliant financial institution in Hong Kong. Investors also include Sumitomo Corporation’s subsidiary, the crypto-native firm SNZ Holding, Chainlink, and Flow Traders, among others. The funds will be used to accelerate the development of on-chain real-world asset (RWA) infrastructure across Asia and globally.

Before this funding round, Pharos had already completed a $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with other investors participating as co-investors; thus, the total amount raised to date reached $52 million. The Pharos testnet went live in May 2025, enabling developers to develop and test applications based on this platform.

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