Pharos Network Completes $44 Million Series A Funding Round, Bringing Total Funding to $52 Million to Accelerate Scalable Onchain Economic Development

Hong Kong, April 8, 2026 — Pharos Network, a Layer 1 blockchain network designed for institutional-grade financial use cases, today announced the successful closure of its $44 million Series A funding round. Proceeds will accelerate the development of onchain real-world asset (RWA) infrastructure across Asia and globally.

The round was co-led by several undisclosed top-tier institutions, including a leading Asian private equity fund, a publicly listed new-energy company, and a Hong Kong–based compliant financial institution. Additional strategic investors include Sumitomo Corporation—a Fortune 500 diversified conglomerate—investing through its subsidiary, as well as crypto-native firms SNZ, Chainlink, and Flow Traders, further bridging real-world assets with onchain liquidity.

Pharos is a financial-grade, asset-native Layer 1 network aiming to integrate $50 trillion in real-world assets (RWA), traditional finance (TradFi), and cross-chain capital into a single modular onchain economic system—scaling to internet-level throughput. The network features a deeply parallel execution architecture and built-in compliance modules, purpose-built for real-time, asset-backed financial applications.

“This funding round will propel RealFi—from concept to reality,” said Wish Wu, Co-Founder and CEO of Pharos Network. “We are redefining how institutional capital, risk governance, and onchain infrastructure converge on a financial-grade Layer 1. Leveraging our strategic partners, we are building an environment where real-world assets can operate at scale—with institutional-grade reliability.”

Prior to this announcement, Pharos has rapidly expanded its ecosystem. It recently entered a strategic capital partnership with GCL—global leader in solar energy and energy storage—to jointly launch an RWA pilot project backed by energy assets.

Pharos Network has now launched its Atlantic Ocean testnet, which fully replicates mainnet-level performance and ecosystem readiness. The testnet has onboarded millions of users and hundreds of millions of unique addresses, validating its capacity to process high-frequency, high-value asset transfers—and positioning it for mainnet launch.

About Pharos Network

Pharos Network is an inclusive Layer 1 blockchain purpose-built for RealFi, enabling real-world value and institutional-grade assets to flow freely onchain while achieving composability with decentralized assets worldwide. Pharos combines a modular architecture, a deeply parallel execution engine, and built-in compliance modules to drive asset-native ecosystem growth.

The team was founded by former core executives from Ant Group, led by CEO Wish Wu. Core members hail from Ant Group, Microsoft Research, and Stanford University, bringing deep expertise in blockchain infrastructure, formal verification, and zero-knowledge proof systems. This team previously spearheaded infrastructure development for Alipay and Asia’s largest blockchain platform.

Prior to this Series A round, Pharos closed an $8 million seed round in November 2024, co-led by Lightspeed Faction and Hack VC, with participation from other investors—bringing its total raised capital to $52 million to date. Its testnet launched in May 2025, enabling developers to build and test applications on the platform.