Pharos raises $44M in Series A funding

Pharos, a Layer 1 blockchain specializing in financial infrastructure, announced it has raised $44 million in a Series A funding round, bringing its total funding to over $52 million. The round was led by a consortium including an Asia-based private equity fund, a renewable energy company, and a Hong Kong-regulated financial institution. Other participants included Sumitomo Corporation Group, SNZ Capital, Chainlink (LINK), and Flow Traders. Pharos plans to use the funds to accelerate the expansion of its Real-World Asset (RWA) tokenization-based 'RealFi' ecosystem and strengthen the link between institutional capital and on-chain infrastructure.