Pharos, a Road Town, British Virgin Islands-based provider of a parallel layer-1 blockchain network, raised $8M in Seed funding.
The round was led by Lightspeed Faction and Hack VC, with participation from SNZ Capital, Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.
The company intends to use the funds to accelerate the development of its protocol and drive the growth of the ecosystem and community.
Led by CEO Alex Zhang, Pharos provides a parallel blockchain network for decentralized innovation. Combining consensus, execution, storage, and heterogeneous hardware, it delivers scalability and performance, enabling a decentralized real-time payment network for global access.
In conduction with the funding, the company announced a strategic partnership with ZAN, the Web3 brand of Ant Digital Technologies, to jointly explore and develop web3 infrastructure, focusing on node service, security and hardware acceleration.
FinSMEs
11/11/2024