Polygon Raises $450 Million at $20 Billion Valuation

Polygon is a platform for decentralized Ethereum scaling and infrastructure development. It offers developers to build and scale Ethereum applications based on blockchain for projects that are related to Web3, decentralized finance, and the metaverse.

The funding round was led by Sequoia Capital India. Along with them, investments came from SoftBank’s Vision Fund 2, Tiger Global, Galaxy Digital, and Seven Seven Six. Polygon is going to use the funding raised for boosting the game and NFT presence.

Polygon, India, was founded by Anurag Arjun, Jaynti Kanani, Mihailo Bjelic, Sandeep Nailwal in 2017. As of now, more than 7000 applications were built using the platform; besides there are 130 million unique users on the platform. They have access to all major infrastructure and scaling solutions: sidechains, hybrid solutions, enterprise and stand-alone chains, L2 solutions, data availability solutions, etc. “Web3 builds on the early internet’s open-source ideals, enabling users to create the value, control the network and reap the rewards. Ethereum, scaled by Polygon, will be the bedrock of this next stage in the Web’s evolution,” Polygon co-founder Sandeep Nailwal.

Previous Post

Alchemy Raises $200 Million at $10 Billion Valuation

Next Post

Salt Security Raises $140 Million at $1.4 Billion Valuation

Related Posts