A Series A funding round of $25 million has been closed for EVM-compatible Manta Network, allowing it to be valued at $500 million.
The lead investors were Polychain Capital and Qiming Ventures Partners, with Alliance, CoinFund, and SevenX Ventures also involved.
Manta Atlantic, the platform’s flagship network, is composed of over 200,000 unique addresses and over 100,000 verified users, with staking tokens issuing to users based on their holdings on Binance.
This investment will be used to further scale the protocol, the user base, and to create new use cases for the Manta Pacific testnet, which is currently hosting ZK applications such as zkHoldEm online poker, zkMe data storage and verification protocol, and zkPass verification platform.
The move follows similar investments in the space, such as Scroll’s $50 million raise with a $1.8 billion valuation and RISC Zero’s $40 million funding.
