Polyhedra Network concludes $20M funding round, reaching $1B valuation

  • Polychain Capital spearheaded the round, joined by Animoca Brands.
  • The funds raised will fuel worldwide growth and recruit fresh talent.
  • This marks the company’s fifth financing round within the past two years.

Polyhedra Network, the powerhouse behind the groundbreaking zero-knowledge protocol zkBridge within Web 3 infrastructure, proudly announces the closure of a $20 million funding round, catapulting the company to a valuation of $1 billion. Revealed in a commanding press release on Thursday, this milestone underscores the unwavering confidence in Polyhedra Network’s vision and capabilities.

Leading the charge is Polychain Capital, alongside a formidable lineup of investors including Animoca Brands, Emirates Consortium, Mapleblock Capital, Hashkey Capital, UoB Ventures, Symbolic Capital, Longhash Ventures, MH Ventures, Arkstream Capital, and Web3Port Foundation, demonstrating widespread industry support and trust in Polyhedra Network’s trajectory.

At the heart of Polyhedra Network’s offerings lies the innovative application of zero-knowledge proofs, setting new standards for security and scalability in the digital landscape. Zero-knowledge proofs, the cornerstone of the company’s products, enable the validation of blockchain statements without compromising user privacy.

Central to this achievement is the zkBridge protocol, facilitating seamless interoperability across networks and safeguarding over 20 million cross-chain transactions spanning more than 25 blockchains. Leveraging unforgeable zero-knowledge proofs, zkBridge ensures the integrity and consensus of sender chains, establishing a new paradigm of trust in decentralized transactions.

Eric Vreeland, Chief Strategy Officer of Polyhedra Network, asserts, “Blockchain technology heralds a new era of decentralized transactions, eliminating the need for intermediaries. Zero-knowledge technology is the catalyst propelling blockchain’s evolution toward its full potential.”

The infusion of $20 million in funding is earmarked for accelerating Polyhedra Network’s global expansion initiatives and bolstering its talent pool with top-tier hires. This marks the fifth successful financing round for Polyhedra in the past two years, cementing its position as a formidable force driving innovation within the blockchain ecosystem.


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