TechFlow news, according to The Block, Layer1 blockchain developer Pharos has completed an $8 million seed round led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor.
Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.
"The Pharos network is currently in internal development and plans to launch its testnet in the first quarter of 2025, followed by the mainnet later this year," said Alex Zhang, co-founder and CEO of Pharos.
Pharos is a cryptocurrency startup focused on building a Layer 1 blockchain network designed to connect traditional financial technology services with Web3 technologies.
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