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 3 funding rounds

Key investors in Polyhedra Network

Polyhedra Network Overview

About Polyhedra Network

Polyhedra Network is a Hong Kong-based Web3 infrastructure provider utilizing zero-knowledge proofs for cross-chain interoperability. Its zkBridge facilitates seamless asset transfers and communication between layer-1 and layer-2 blockchains like Ethereum and Polygon. Developers build secure decentralized applications with the platform's interoperability kit, supporting over 30 chains. Launched in 2021, Polyhedra powers protocols handling billions in transaction volume monthly.


Founded

2022

HQ

SingaporeSingapore

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

Polyhedra Network valuation by funding round
DateStageValuation
Mar 2024Series A$1B
Apr 2023Series A$1B

Polyhedra Network Funding History

Polyhedra Network has raised a total of $45M across 3 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

Polyhedra Network funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2024Series APolychain (lead); MH Ventures; Symbolic Capital; LongHash Ventures; Animoca Brands; Web3Port; ArkStream Capital; UOB Venture; Emirates Consortium; Mapleblock Capital; HashKey Capital$20M$1BPolyhedra 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.
Apr 2023Series APolychain (lead)$15M$1B-
Feb 2023SeedPolychain (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?

12 investors have backed Polyhedra Network across its funding rounds, including Polychain, Animoca Brands, YZi Labs, HashKey Capital, MH Ventures and UOB Venture.

Lead investors include Polychain and YZi Labs.


Polyhedra Network Investors

Investors in Polyhedra Network by funding rounds participated
InvestorHQRoundsRoleFirst check
PolychainUnited StatesSan Francisco, CA3LeadFeb 2023
MH VenturesUnited KingdomLondon1ParticipantMar 2024
Symbolic CapitalUnited StatesNew York City, NY1ParticipantMar 2024
LongHash VenturesSingaporeSingapore1ParticipantMar 2024
Animoca BrandsHong KongHong Kong1ParticipantMar 2024
Web3PortUnited StatesNew York City, NY1ParticipantMar 2024
YZi LabsMaltaBirkirkara1LeadFeb 2023
ArkStream CapitalCayman IslandsGeorge Town1ParticipantMar 2024
UOB VentureSingaporeSingapore1ParticipantMar 2024
Emirates ConsortiumUAEAbu Dhabi1ParticipantMar 2024

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Polyhedra Network Competitors

Polyhedra Network competitors include listed companies like TRS Information Technology and Transwarp, and private ones like Hyperchain Technologies, Unmarshal, Taiko Labs and Zama.

Public and private companies comparable to Polyhedra Network
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Hyperchain TechnologiesChinaHangzhouPrivate--$978M-
UnmarshalIndiaBangalorePrivate--$600M-
Taiko LabsHong KongHong KongPrivate--$1B-
ZamaSwitzerlandZugPrivate--$1B-
TRS Information TechnologyChinaChinaPublicly listed$76M($20M)$1.7B19.7x
TranswarpChinaChinaPublicly listed$67M($31M)$1.9B28.0x

Polyhedra Network Public Comps

Polyhedra Network is still privately-owned, but its public comps include HashKey Holdings, e-Hualu, BitGo Holdings, OSL Group, Indokripto Koin Semesta, Rhino Bitcoin, Securitize, Stewards, BTQ Technologies and Zhongfu Information.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
HashKey Holdings$92M($109M)6.4x-(5.4x)-
e-Hualu$69M($310M)24.1x-(5.4x)-
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x
OSL Group$62M($48M)16.6x11.3x(21.7x)(23.2x)
Indokripto Koin Semesta$16M$7M36.9x-81.1x-
Rhino Bitcoin$478K($417K)1242.8x-(1423.4x)-
Securitize$62M($34M)25.5x22.2x(46.0x)(37910.8x)
Stewards------

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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 3 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, YZi Labs, ArkStream Capital, UOB Venture, Emirates Consortium and 2 others.
Which companies are comparable to Polyhedra Network?Companies comparable to Polyhedra Network include Hyperchain Technologies, Unmarshal, Taiko Labs, Zama, TRS Information Technology and Transwarp.

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