The platform develops solutions for scaling the Ethereum blockchain network.
- The lead investor was Sequoia Capital India venture fund with the participation of SoftBank, Galaxy Digital, Tiger Global, and others.
- Polygon received funds from the sale of its own Matic token. This is the first major round for the platform. Before that, she had only raised $450,000, according to Crunchbase data.
- Polygon (formerly Matic Network) is an Ethereum compatible blockchain network-building platform. According to the team itself, they are developing services “similar to the AWS cloud service”, but for Web 3.0.
- The company will use the funds raised to further develop its technologies for blockchain scaling.
- According to Coindesk, the price of Matic tokens rose by 17% in 24 hours to $1.9, and the market capitalization of the cryptocurrency was about $20 billion.
