ChainCatcher report: According to official announcements, Pharos Network, a Layer 1 blockchain network designed for institutional financial use cases, has completed a $44 million Series A funding round led jointly by several undisclosed leading institutions, including Asian private equity funds, renewable energy publicly traded companies, and Hong Kong-compliant financial institutions. Additional investors include Sumitomo Corporation’s subsidiary, crypto-native firm SNZ Holding, Chainlink, and Flow Traders. The funds will be used to accelerate the development of on-chain real-world asset (RWA) infrastructure across Asia and globally. Prior to this round, Pharos completed an $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with additional investors participating, bringing the total raised to date to $52 million. Pharos’s testnet launched in May 2025, enabling developers to build and test applications on the platform.
Pharos Network Completes $44M Series A Funding for RWA Infrastructure
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Summary
Pharos Network announced a $44 million Series A funding round led by leading institutions, including Asian private equity funds, publicly listed new energy companies, and Hong Kong-compliant financial entities. The network upgrade will prioritize real-world assets (RWA) initiatives, with participants including Chainlink, SNZ Holding, and Flow Traders. The funds will accelerate global development of RWA infrastructure. The project previously raised $8 million in seed funding in November 2024, bringing the total to $52 million. A testnet launched in May 2025 to support application development.
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