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Pharos Network said on April 8 that it had raised $44 million in a Series A round, bringing total funding to $52 million. The announcement, datelined Hong Kong, named Sumitomo Corporation (through a subsidiary), SNZ and Flow Traders among participants, along with unnamed Asia-based PE funds, publicly traded renewable energy companies, and regulated Hong Kong financial institutions.
What Pharos is building
Pharos presents itself as a financial-focused Layer 1 for real world assets, stablecoins, and compliant finance. The company says its infrastructure includes ZK-KYC and AML modules and is intended for tokenized financial products, with real estate among the target asset classes. Pharos has previously adopted Chainlink CCIP and Data Streams for cross-chain infrastructure and tokenized RWA market data.
Still in testnet
The network is not live yet. Company materials refer to its Atlantic Ocean testnet as the current stage. Neither the funding release nor the company documentation identifies a new licence, filing, or supervisory approval tied to the round.
Part of a longer build-out
The Series A follows earlier steps: a seed round, a Centrifuge partnership, a Circle settlement layer announcement, and a strategic investment from GCL New Energy, as shown in the company's resource archive. The raise adds capital to an existing infrastructure build rather than launching something new.
What this changes
Pharos has more money to develop a network it says will support compliant tokenized assets. The funding does not change investor rights, regulatory treatment, or market access. It matters most for infrastructure providers, potential issuers, and institutional counterparties evaluating RWA rails in Asia.
