• Pharos raised $8 million in seed funding co-led by Lightspeed Faction and Hack VC to expand its blockchain network and ecosystem.
  • The funding will boost Pharos' development of high-performance blockchain solutions, with a focus on DeFi and real-world asset integration.

Layer-1 blockchain network, Pharos has successfully raised $8 million in a seed funding round. The round was co-led by Lightspeed Faction and Hack VC, with additional investments from SNZ Capital, Reforge, Dispersion Capital, Hash Global, and several other prominent backers. The funds will be used to enhance the Pharos protocol, aiming to expand its ecosystem and drive community growth.

The company's focus is on delivering a scalable and high-performance blockchain network designed to revolutionize decentralized finance (DeFi) and real-world asset integration. Pharos plans to use its unique parallel architecture to support real-time global payment solutions, connecting traditional FinTech services with decentralized Web3 technologies.

CEO Alex Zhang expressed excitement about the company's progress, saying:

"This seed round propels us closer to realizing our vision of bridging existing FinTech services with trustless Web3 innovations. We aim to onboard billions of users and real-world assets into the Web3 ecosystem."

As part of its growth strategy, Pharos has also entered a strategic partnership with ZAN, the Web3 brand of Ant Digital Technologies. This collaboration will focus on building Web3 infrastructure, with key areas of development including node services, security, and hardware acceleration.

Pharos’ parallel processing approach, which spans consensus, execution, and storage, is set to deliver unmatched scalability, addressing one of the biggest challenges in the blockchain space—mass adoption. With this technology, Pharos aims to become a game-changer in decentralized finance, making blockchain more accessible and efficient for a wider audience.

Clara Boh, Deal Partner at Faction, highlighted the company’s potential, stating:

"Pharos' unique approach to parallelism and high-performance architecture positions it as a game-changer for bringing real-world assets and decentralized finance together."

With its new capital and strategic alliances, Pharos is on track to accelerate the adoption of blockchain technology, ensuring it becomes a key player in the evolving digital economy.

Edited by Harshajit Sarmah