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- Polyhedra Network
Polyhedra Network Valuation, Funding & Investors
Polyhedra Network is valued at $1B as of March 2024.
Last Polyhedra Network valuation
$1B
Series A · Mar 2024
Last Polyhedra Network funding round
$20M
Series A · Mar 2024
Cumulative funding Polyhedra Network raised
$45M
across 4 funding rounds
Key investors in Polyhedra Network
Polychain
Animoca Brands
YZi Labs
HashKey Capital
Animoca Ventures
MH Ventures
About Polyhedra Network
Polyhedra Network develops zero-knowledge-proof infrastructure for blockchain interoperability and verifiable computation. Its zkBridge protocol verifies source-chain states and consensus with cryptographic proofs before delivering messages to destination chains, reducing reliance on external validator sets. The platform supports cross-chain messaging and token transfers that developers can integrate into decentralized applications. Polyhedra also develops the Expander proof system, zkML research and tooling, Proof Cloud services, and EXPchain infrastructure. The company's products are aimed primarily at blockchain protocols, application developers, and organizations that require secure proof generation or cross-chain connectivity. Its developer resources include software interfaces, documentation, contract addresses, research papers, and testing tools. Polyhedra's commercial model is based on infrastructure usage, proof services, and technical integrations rather than a consumer subscription product.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Valuation
$1B (Mar 2024)
Polyhedra Network Valuation
Polyhedra Network is currently valued at $1B, based on its Series A in March 2024.
The $20M round was led by Polychain, with participation from MH Ventures, Symbolic Capital, LongHash Ventures, Animoca Brands, Web3Port and 5 other investors.
Polyhedra Network's valuation has moved from $1B at its Series A in April 2023 to $1B in March 2024, across 2 priced rounds.
Polyhedra Network valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2024 | Series A | $1B |
| Apr 2023 | Series A | $1B |
Polyhedra Network Funding History
Polyhedra Network has raised a total of $45M across 4 funding rounds.
Polyhedra Network's first fundraising round was a $10M seed round in February 2023. The most recent completed round was a $20M Series A in March 2024.
Polyhedra Network funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2024 | Series A | Polychain (lead); MH Ventures; Symbolic Capital; LongHash Ventures; Animoca Brands; Web3Port; ArkStream Capital; UOB Venture; Emirates Consortium; Mapleblock Capital; HashKey Capital | $20M | $1B | Polyhedra Network is a Web3 infrastructure provider that has developed zkBridge, a zero-knowledge interoperability protocol enabling cross-chain transactions with enhanced security and scalability. The company leverages zero-knowledge proofs to verify blockchain statements and facilitate trust-minimized interoperability across blockchains. In its fifth fundraising round, Polyhedra closed a $20 million strategic financing on March 14, 2024, led by Polychain Capital with participation from Animoca Brands, Emirates Consortium, Mapleblock Capital, HashKey Capital, UoB Ventures, Symbolic Capital, LongHash Ventures, MH Ventures, Arkstream Capital, and Web3Port Foundation. The round valued the company at $1 billion USD, achieving unicorn status. Polyhedra announced plans to deploy the capital for global expansion and team growth, with the company aiming to expand from 50 employees to approximately 80 by year-end 2024. By the time of the funding round, zkBridge had facilitated over 20 million cross-chain transactions and generated over 40 million zero-knowledge proofs across 25+ blockchains, including millions of messages sent using the LayerZero protocol. The company positions itself as a leading institution in zero-knowledge technology and trust-minimized interoperability, with the funding bringing total raised to $75 million across its five funding rounds completed over two years. |
| Jan 2024 | Strategic investment | Animoca Ventures | - | - | Animoca Ventures' official portfolio snapshot dated 19 April 2024 lists Polyhedra Network as a portfolio holding. The disclosure establishes a private investment relationship by 2024, but it does not identify the closing day, financing round, security, invested amount, valuation, or ownership percentage. It does not attribute Animoca Ventures to any separately reported Animoca Brands financing and carries no stage, amount, valuation, lead role, or syndicate from another transaction. Polyhedra Network is a cryptographic infrastructure company developing zero-knowledge systems for blockchain interoperability, scalable computation, privacy, and verifiable artificial intelligence. Its zkBridge protocol validates the state and consensus of a source blockchain with zero-knowledge proofs before a destination chain verifies the result. The company also develops proof systems, developer tooling, machine-learning verification technology, and an execution stack intended for applications that need mathematically verifiable computation. |
| Apr 2023 | Series A | Polychain (lead) | $15M | $1B | - |
| Feb 2023 | Seed | Polychain (lead); YZi Labs (lead) | $10M | - | Polyhedra Network raised $10 million in a Strategic funding round on February 21, 2023, led by Polychain Capital and YZi Labs. This was one of four funding rounds, following a total raised of $45 million across rounds including a Pre-A of $15 million in April 2023, Series A in January 2024, and a $20 million round in March 2024 that valued the company at $1 billion. Polyhedra Network develops zero-knowledge proof infrastructure, including zkBridge for cross-chain interoperability connecting over 25 blockchains and securing millions of transactions. |
Who has invested in Polyhedra Network?
13 investors have backed Polyhedra Network across its funding rounds, including Polychain, Animoca Brands, YZi Labs, HashKey Capital, Animoca Ventures and MH Ventures.
Lead investors include Polychain and YZi Labs.
Polyhedra Network Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2023 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Jan 2024 | ||
| 1 | Lead | Feb 2023 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
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Start Free TrialPolyhedra Network Competitors
Polyhedra Network competitors include listed companies like Transwarp and TRS Information Technology, and private ones like Hyperchain Technologies, Unmarshal, Taiko Labs and Zama.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $978M | - | ||
| Private | - | - | $600M | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $67M | ($31M) | $1.3B | 19.3x | ||
| Publicly listed | $77M | ($20M) | $1.5B | 17.8x |
Polyhedra Network Public Comps
Polyhedra Network is still privately-owned, but its public comps include OSL Group, Securitize, Chaince Digital, e-Hualu, Transwarp, Stewards, Rhino Bitcoin, HashKey Holdings, BitGo Holdings and Sharplink.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $62M | ($48M) | 15.9x | 10.8x | (20.8x) | (18.1x) | |||
| $62M | ($34M) | 21.9x | 19.0x | (39.5x) | (302.8x) | |||
| $2M | ($3M) | 373.0x | - | (244.4x) | - | |||
| $70M | ($312M) | 21.0x | - | (4.7x) | - | |||
| $67M | ($31M) | 18.8x | 19.3x | (40.9x) | - | |||
| - | - | - | - | - | - | |||
| $478K | ($417K) | 1380.9x | - | (1581.6x) | - | |||
| $92M | ($109M) | 3.8x | - | (3.2x) | - | |||
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Common questions about Polyhedra Network
| When was Polyhedra Network founded? | Polyhedra Network was founded in 2022. |
| Where is Polyhedra Network headquartered? | Polyhedra Network is headquartered in Singapore, Singapore. |
| Is Polyhedra Network publicly listed? | No, Polyhedra Network is a private, VC-backed company. |
| What is Polyhedra Network's valuation? | Polyhedra Network was last valued at $1B in its Series A in March 2024. |
| How much funding has Polyhedra Network raised? | Polyhedra Network has raised $45M across 4 funding rounds. |
| What was Polyhedra Network's last funding round? | Polyhedra Network's last funding round was a $20M Series A in March 2024, led by Polychain. |
| Who are Polyhedra Network's investors? | Polyhedra Network's investors include Polychain, MH Ventures, Symbolic Capital, LongHash Ventures, Animoca Brands, Web3Port, Animoca Ventures, YZi Labs, ArkStream Capital, UOB Venture and 3 others. |
| Which companies are comparable to Polyhedra Network? | Companies comparable to Polyhedra Network include Hyperchain Technologies, Unmarshal, Taiko Labs, Zama, Transwarp and TRS Information Technology. |
See companies similar to Polyhedra Network
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