Polygon collects $ 450 million from Sequoia Capital India, Softbank, Kevin O'Leary by Shark Tank-Finance
Polygon collects $ 450 million from Sequoia Capital India, Softbank, Kevin O'Leary by Shark Tank-Finance
The blockchain project Polygon announced that it collected $ 450 million in a fundraising round led by Sequoia Capital India on Monday with participation of more than 40 risk capital companies. Polygon says that the team will enable the team to scale Ethereum and to promote the mass acceptance of web3 applications.
Sequoia Capital India and more than 40 VC companies inject $ 450 million into the coffers of polygon
frequency , according to a press release that was sent to Bitcoin.com News on February 7, has collected $ 450 million from strategic investors. The financing round was headed by Sequoia Capital India, and more than 40 other investors took part in the fundraising campaign.
On the 450 million-finance round, Galaxy Digital, Galaxy Interactive, Kevin O’Leary (Mr. Wonderful from ABCS Shark Tank), Softbank Vision Fund 2, Tiger Global and Republic Capital.
The fundraising campaign marks the first large polygon financing round since 2017. The native token polygon (MATIC) of the project is the 15th largest crypto asset in terms of market evaluation. Since the beginning of the year, Matic has increased $ 3,608 % and Matetic has increased by 20.7 % in the past week.
The capital procurement of $ 450 million follows a number of strategic steps from polygon, including the takeover of hermez-network (now Vigoreck Hermez ) for $ 250 million in August 2021. In mid-December 2021 Polygon acquired the Mir protocol for $ 400 million, around the "groundbreaking To support ZK-Rollup technology.
ZK technology is mentioned in the recent donation announcement, in which it is explained what polygon is going on with the financing.
"Polygon builds up a number of scaling solutions, including polygon-pos , polygon edge and polygon available is similar to what amazon web services Web2 developers offers-a tool for every possible application, ”explains the announcement of the financing round. "The team is also investing in state-of-the-art zero knowledge technology (ZK), which will be the key to onboarding the next billion users for Ethereum."
Sandeep Nailwal, co -founder of polygon, says that Ethereum, scaled by polygon, will be the basis for the evolutionary rise of web3.
"Web3 builds on the open source ideals of the early Internet and enables users to create values, control the network and to harvest the fruits. Ethereum, scaled by polygon, will be the foundation of this next stage in the development of the web," noted Nailwal in an explanation. "The technological upheaval did not start with Web2 and will not end there. Therefore, we are very pleased that some of the same companies that have financed the previous innovation round are now our web3 vision."
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