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Indian blockchain start-up Polygon bags $450 mn from Sequoia, Tiger Global

Polygon is an Ethereum scaling platform that enables developers to build scalable DApps (decentralised apps) with low transaction fees without sacrificing on security

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The current market capitalisation of Matic, which is the native crypto token of Polygon, is $14.6 billion – down 28 per cent from its lifetime high of $20.4 billion which it hit in December 2021

Deepsekhar Choudhury Bengaluru

3 min read Last Updated : Feb 07 2022 | 11:35 PM IST

Blockchain start-up Polygon has raised $450 million (around Rs 3,400 crore) at a valuation of around $10 billion, making it the biggest funding round in the Web3 (crypto and blockchain) space in India, and one with the highest valuation.

The funding was raised through a private sale of its native MATIC token in a funding round led by Sequoia Capital India with participation from SoftBank, Tiger Global, and others.

Polygon is an Ethereum scaling platform that enables developers to build scalable DApps (decentralised apps) with low transaction fees without sacrificing on security. Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun co-founded

Topics : NFT Fundraising Blockchain Startups