Polygon attracted $450 million in the next round of financing – Bits Media

The Polygon project held another round of fundraising, during which he attracted $450 million. The funds will be used to scale the Ethereum network and implement Web3 applications.

According to a Polygon press release, this round of fundraising was one of the largest for the project with 2017 of the year. More than 40 firms, including SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global and Republic Capital. Sequoia Capital India led the round.

Tokens of the Polygon MATIC project have become 15 crypto asset by market capitalization. Last August, the company acquired Hermez Network for $250 million, and in mid-December it bought the startup Mir to develop Polygon Zero, a highly scalable, Ethereum-compatible rollup package based on ZK.

“We are creating a set of solutions for scaling, such as Polygon PoS, Polygon Avail and Polygon Edge - this can be called an analogue of Amazon Web Service, but for Web3", - said in the statement.

Co -founder Polygon Sandip Nailval (Sandeep Nailwal) sure, that with the help of Polygon, the Ethereum network will reach a new level of scalability and become the basis for the next stage of the evolution of the Internet.

Last December it became known, that a vulnerability in the Polygon network could lead to theft $24 billion.