{"id":81939,"date":"2023-07-20T10:10:21","date_gmt":"2023-07-20T07:10:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81939"},"modified":"2025-09-12T02:03:35","modified_gmt":"2025-09-11T23:03:35","slug":"manta-network-raises-25-million-to-launch-zk-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/manta-network-raises-25-million-to-launch-zk-network\/","title":{"rendered":"Manta Network raises $25 million to launch ZK network"},"content":{"rendered":"<p>Developers of the EVM-compatible Manta Network <a href=\"https:\/\/www.zawya.com\/en\/economy\/global\/manta-network-developer-p0x-labs-raises-25m-series-a-nzdm5hvz\">\u0437\u0430\u043a\u0440\u044b\u043b\u0438<\/a> a Series A round of $25 million to launch applications built on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-zero-knowledge-proof\">zero-knowledge proofs<\/a> (ZK).<\/p>\n<p>The leading investors were Polychain Capital and Qiming Venture Partners with participation from Alliance, CoinFund and SevenX Ventures. The round valued the company at $500 million.<\/p>\n<p>The project team positions Manta Network as the fastest L1 network. Developers also launched a testnet <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">second layer<\/a> for ZK applications \u2014 Manta Pacific.<\/p>\n<p>The funds will be used to scale the protocol, expand the user base and develop new use cases for Manta Pacific.<\/p>\n<p>According to Kenny Lee, head of the network, the flagship platform Manta Atlantic has more than 200,000 unique addresses and over 100,000 users who have completed the verification process.<\/p>\n<p>Lee added that privacy is maintained through staking tokens issued to users based on their holdings on platforms such as Binance.<\/p>\n<p>The Manta Pacific testnet already hosts several ZK applications. Among them: online poker zkHoldEm, the data-storage-and-verification protocol zkMe, and the verification platform zkPass.<\/p>\n<p>Back in March, Scroll, a Layer-2 network for Ethereum scaling using ZK-Rollups, <a href=\"https:\/\/forklog.com\/en\/news\/scroll-an-ethereum-scaling-startup-raises-50-million-at-a-1-8-billion-valuation\">raised $50 million<\/a> at a $1.8 billion valuation.<\/p>\n<p>In July, the ZK-based virtual-machine startup RISC Zero <a href=\"https:\/\/forklog.com\/en\/news\/risc-zero-raises-40-million-in-series-a-led-by-blockchain-capital\">closed<\/a> a funding round of $40 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developers of the EVM-compatible Manta Network closed a Series A round of $25 million to launch applications built on zero-knowledge proofs (ZK).<\/p>\n","protected":false},"author":1,"featured_media":81940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1133],"class_list":["post-81939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81939"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81939\/revisions"}],"predecessor-version":[{"id":81941,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81939\/revisions\/81941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81940"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}