Manta Network Raised $25M, Led by Polychain Capital and Qiming Venture

The development team behind Manta Network, p0x labs, has raised $25 million in a Series A funding round. The round was led by Polychain Capital and Qiming Venture Partners, valuing the project at $500 million.

In conjunction with the funding, Manta Network has launched the testnet for its Layer 2 solution, Manta Pacific, aimed at developing zero-knowledge (ZK) applications within its modular ZK ecosystem, according to a statement.

The funding will be allocated to expand Manta Pacific and Manta Atlantic, its ZK Layer 1 blockchain for compliant on-chain privacy, the team announced.