Media reports that Polygon plans to raise up to $150 million in venture funding

The Polygon team is in talks with a group of venture investors to raise $50 million – $150 million through the purchase of native MATIC tokens. According to TechCrunch, citing sources.

Among the participants in the potential deal to invest in the network of secure second-layer solutions (L2) and autonomous sidechains, the publication named Sequoia Capital India and Steadview Capital.

According to sources, the investors could purchase tokens at a 20% discount to the average MATIC price over the past month. Terms are still under discussion.

The publication noted that previously the startup faced a demand from one of its early investors to return funds during the bear market. The Polygon founders managed to resolve the matter and continue development.

In November, the team unveiled a solution for scaling Ethereum based on ZK-Rollups. In August, Polygon acquired the Hermez Network, a platform specializing in this technology.

In May, billionaire Mark Cuban invested in the project.

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