Pharos Network Completes $44 Million Series A Financing

2026-04-09 08:20:55

On April 8, Pharos Network, a Layer 1 blockchain network aimed at institutional financial scenarios, announced the completion of $44 million in Series A financing, led by several undisclosed top-tier institutions, including Asian private equity funds, a renewable energy listed company, and compliant financial institutions in Hong Kong. Investors include a subsidiary of Sumitomo Corporation, crypto-native institution SNZ, Chainlink, and Flow Traders. The funds will be used to accelerate the construction of on-chain real-world asset (RWA) infrastructure in Asia and globally. Prior to this round of financing, Pharos had completed an $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with additional investors participating, bringing the total financing to $52 million. Pharos’s testnet is set to launch in May 2025, allowing developers to build and test applications on the platform.

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