Ethereum Layer-2 scaling startup Polygon raised $450 million led by Sequoia Capital India where 40 major VC firms including SoftBank, which invested from the Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital with Alameda Research, Transcend Fund, Makers Fund, Animoca Brands, gaming company and investor Scopely, Third Point, dune ventures, Union Square Ventures, Seven Seven Six, Elevation Capital, Sino Global Capital, DCG, Standard Crypto, Celsius, Dragonfly Capital, Variant Fund, Blue Pool Capital, WorkPlay Ventures also participated.
Polygon is a video game website based in the United States that publishes blogs, reviews, guides, videos, and news. Polygon claims to have processed over 23 million blocks and 1.3 billion transactions with over 7,000 deployed Apps. The latest funds will be used to consolidate the team's lead in the race to scale Ethereum, according to a statement from the company. The team is also investing in zero knowledge (ZK) technology, which will be critical in onboarding the next billion Ethereum users.