Pharos Network completes $44 million Series A funding, bringing total funding to $52 million, accelerating the development of on-chain economic scale.

Hong Kong, April 8, 2026 —— Pharos Network, a Layer 1 blockchain network built for institutional-grade financial use cases, today announced the successful completion of a $44 million Series A funding round, which will be used to accelerate the development of on-chain real-world asset (RWA) infrastructure across Asia and around the world.
This round was jointly led by multiple top institutions that did not disclose their identities, including a leading private equity fund in Asia, a publicly listed new energy company, and compliant financial institutions in Hong Kong. Other strategic investors include traditional industry leaders such as Sumitomo Corporation, a Fortune 500 diversified conglomerate, investing through its subsidiaries, as well as crypto-native firms SNZ, Chainlink, and Flow Traders, further strengthening the connection between real-world assets and on-chain liquidity.
Pharos is a financial-grade, asset-native Layer 1 network. Its goal is to integrate $5 trillion worth of real-world assets (RWA), TradFi (traditional finance), and cross-chain capital into a modular on-chain economic ecosystem and deliver internet-scale throughput. The network uses a deep parallel execution architecture with built-in scalable blocks, specifically designed to support real-time, asset-backed financial applications.
“This round of funding will push RealFi (real-world finance) from concept to implementation.” Wish Wu, co-founder and CEO of Pharos Network, said, “We are defining how institutional capital, risk governance, and on-chain infrastructure can achieve synergy on a financial-grade Layer 1. With our strategic partners, we are committed to building an environment where real-world assets can run at large scale with institutional-grade reliability. With our strategic partners, the environment we are building is one where real-world assets can run at large scale with institutional-grade reliability.”
Previously, Pharos had already been rapidly expanding its ecosystem. Recently, it reached a strategic capital partnership with GCL Group (GCL), a global solar and energy storage giant, and jointly launched an RWA pilot program backed by energy assets.
At present, Pharos Network has launched the Atlantic Ocean testnet, which fully showcases mainnet-level performance and ecosystem readiness. The testnet has been connected to millions of users and hundreds of millions of independent addresses, demonstrating its ability to handle high-frequency, high-value asset transfers and preparing it for mainnet launch.

About Pharos Network
Pharos Network is an inclusive Layer 1 blockchain built specifically for RealFi (real-world finance), dedicated to enabling real value and institutional-grade assets to flow freely on-chain and to achieve composability with decentralized assets globally. Pharos integrates a modular architecture, a deep parallel execution engine, and built-in scalable blocks, driving the development of an asset-native ecosystem.
The team was founded by former core management from Ant Group, led by CEO Wish Wu. Core members come from Ant Group, Microsoft Research, and Stanford University. They have deep expertise in blockchain foundational architecture, formal verification, and zero-knowledge proof systems. This team previously led the infrastructure build-out for Alipay and Asia’s largest blockchain platform.
Prior to this Series A funding round, Pharos completed an $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with other investors participating as follow-on investors. To date, total funding has reached $52 million. The Pharos testnet launched in May 2025, and developers can build and test applications based on this platform.