Pharos Network Completes $44 Million Series A Funding, Total Funding Reaches $52 Million, Accelerating the Scalable Development of the On-Chain Economy

marsbitPubblicato 2026-04-08Pubblicato ultima volta 2026-04-08

Introduzione

Pharos Network, a Layer 1 blockchain designed for institutional financial applications, has raised $44 million in Series A funding, bringing its total funding to $52 million. The round was co-led by undisclosed major institutions, including a top Asian private equity fund, a listed new energy company, and a licensed Hong Kong institution. Other strategic investors include Sumitomo Corporation (via a subsidiary), SNZ, Chainlink, and Flow Traders. The funds will accelerate the development of its on-chain real-world asset (RWA) infrastructure in Asia and globally. Pharos aims to integrate $50 trillion in RWA, traditional finance (TradFi), and cross-chain capital into a modular on-chain economy. The network uses a deeply parallel execution architecture with built-in compliance modules tailored for real-time, asset-backed financial applications. The company recently partnered with energy giant GCL to launch an RWA pilot project backed by energy assets. Its Atlantic Ocean testnet is already operational, supporting millions of users and hundreds of millions of addresses, demonstrating its capacity for high-frequency, high-value asset transfers in preparation for mainnet launch. Pharos was co-founded by ex-Ant Group core management, including CEO Wish Wu, and previously raised an $8 million seed round in November 2024.

Hong Kong, April 8, 2026 — Pharos Network, a Layer 1 blockchain network for institutional financial scenarios, today announced the completion of a $44 million Series A funding round. The funds will be used to accelerate the construction of on-chain real-world asset (RWA) infrastructure in Asia and globally.
This round was co-led by several undisclosed leading institutions, including top Asian private equity funds, listed new energy companies, and compliant financial institutions in Hong Kong. Other strategic investors include: traditional industry leaders such as the world's top 500 comprehensive enterprise group Sumitomo Corporation investing through its subsidiaries, as well as crypto-native institutions like SNZ, Chainlink, and Flow Traders, further bridging the connection between real assets and on-chain liquidity.
Pharos is a financial-grade, asset-native Layer 1 network aimed at integrating $50 trillion in real-world assets (RWA), traditional finance (TradFi), and cross-chain capital into a modular on-chain economic system, achieving internet-scale performance. The network employs a deeply parallel execution architecture with built-in compliance modules, specifically designed for real-time, asset-backed financial applications.
"This funding round will drive RealFi (Real Finance) from concept to implementation," said Wish Wu, co-founder and CEO of Pharos Network. "We are defining how institutional capital, risk governance, and on-chain infrastructure can synergize on a financial-grade Layer 1. With the support of strategic partners, we are committed to creating an environment where real-world assets can operate at an institutional-grade reliability and scale. Leveraging our strategic partners, we aim to build an environment where real-world assets can run at an institutional level of reliability and on a large scale."
Prior to this, Pharos has rapidly advanced its ecosystem expansion. It recently entered into a strategic capital partnership with global solar and energy storage giant GCL Group to jointly launch an RWA pilot project backed by energy assets.
Currently, Pharos Network has launched the Atlantic Ocean testnet, which fully demonstrates mainnet-level performance and ecosystem readiness. The testnet has already onboarded millions of users and hundreds of millions of unique addresses, validating its ability to handle high-frequency, high-value asset transfers and preparing for the mainnet launch.

About Pharos Network
Pharos Network is an inclusive Layer 1 blockchain built for RealFi (Real Finance), dedicated to enabling the free flow of real value and institutional-grade assets on-chain, with global composability alongside decentralized assets. Pharos combines a modular architecture, a deeply parallel execution engine, and built-in compliance modules to drive asset-native ecosystem development.
The team was initiated by former core management members of Ant Group, led by CEO Wish Wu, with core members hailing from Ant Group, Microsoft Research, and Stanford University, possessing deep expertise in blockchain infrastructure, formal verification, and zero-knowledge proof systems. This team previously led the infrastructure development for Alipay and Asia's largest blockchain platform.
Prior to this Series A round, Pharos completed an $8 million seed funding round in November 2024, led by Lightspeed Faction and Hack VC, with participation from other investors, bringing the total funding to $52 million. The Pharos testnet went live in May 2025, allowing developers to build and test applications on the platform.

Domande pertinenti

QWhat is the total amount of funding raised by Pharos Network to date, and what was the amount raised in its Series A round?

APharos Network has raised a total of $52 million to date. The Series A round raised $44 million.

QWhat is the primary goal of the Pharos Network Layer 1 blockchain?

AThe primary goal of Pharos Network is to integrate $50 trillion of real-world assets (RWA), traditional finance (TradFi), and cross-chain capital into a modular on-chain economy, aiming for internet-level scale.

QWho were some of the strategic investors mentioned in the Series A funding round?

AStrategic investors included a world top 500 comprehensive enterprise group Sumitomo Corporation (via its subsidiary), as well as crypto-native institutions SNZ, Chainlink, and Flow Traders.

QWhat recent strategic capital partnership did Pharos Network announce, and what type of RWA project did it initiate?

APharos Network announced a strategic capital partnership with global solar and energy storage giant GCL Group to jointly launch an RWA pilot project backed by energy assets.

QWhat is the name of the testnet that Pharos Network has launched, and what has it demonstrated?

AThe testnet is called Atlantic Ocean. It has demonstrated mainnet-level performance and ecosystem readiness, handling millions of users and hundreds of millions of independent addresses to validate its capability for high-frequency, high-value asset transfers.

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