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Pharos Announces $44 Million Series A for Onchain Real-World Asset Infrastructure

Pharos Announces $44 Million Series A for Onchain Real-World Asset Infrastructure

According to the company’s official announcement, Pharos raised $44 million in Series A financing to expand institutional onchain real-world asset infrastructure across Asia and beyond, with its Atlantic Ocean testnet live ahead of mainnet.

Fact Check
The core claim that Pharos announced a $44 million Series A to expand institutional onchain RWA infrastructure is supported by the fetched article 'Pharos Network raises $44M to push institutional RWAs onchain,' which explicitly reports the $44M Series A and describes expansion across Asia and global markets. That article also includes a quoted/embedded announcement from Pharos Network. However, the user statement's added detail that the 'Atlantic Ocean testnet' was already live is not cleanly confirmed by the fetched evidence; the fetched article instead says a public testnet launch was scheduled. Because the main financing claim is supported but one operational-status detail is not firmly verified from the available fetched sources, the overall statement is best rated likely_true rather than fully confirmed.
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Summary

In an official announcement, Pharos said it closed a $44 million Series A round to accelerate institutional-grade infrastructure for onchain real-world assets in Asia and globally. The company said total funding has now reached $52 million following an $8 million seed round in November 2024. The new release also describes Pharos as an EVM Layer 1 blockchain and says the funding supports building institutional RWA rails across Asia and beyond. Pharos also announced that its Atlantic Ocean testnet is live ahead of its mainnet launch.

Terms & Concepts
  • Series A: An early-stage funding round typically used to scale operations, product development, and market expansion.
  • Onchain real-world assets: Real-world financial or physical assets represented on a blockchain for issuance, transfer, or management.
  • EVM Layer 1: A base-layer blockchain compatible with the Ethereum Virtual Machine, allowing Ethereum-style smart contracts and applications to run on its own network.