Sequoia Capital, Tiger Global, SoftBank, and others invest $450 million in Polygon Technology

• ByStartupStory     |    February 8, 2022

Polygon, an Ethereum scaling platform, has raised $450 million the round led by Sequoia Capital India, with participation from over 40 major venture capital firms, including SoftBank and Tiger Global, as well as notable individual investors such as Alan Howard (co-founder of Brevan Howard) and Kevin O’Leary (Mr Wonderful from ABC’s Shark Tank). Sandeep Nailwal, Jaynti Kanani, Anurag Arjun, and Mihailo Bjelic formed Polygon.

According to Nailwal, Web3 builds on the open-source values of the early internet, allowing people to create value, govern the network, and enjoy the benefits. The core of this next stage in the Web’s growth will be Ethereum, scaled by Polygon.Web3 alludes to the decentralized web, who creates peer-to-peer networks using blockchain technology.

The money will help the team maintain its lead in the battle to expand Ethereum, removing the need for competing blockchains and opening the door for widespread adoption of Web3 apps.

Web3 alludes to the decentralized web, who creates peer-to-peer networks using blockchain technology. The money will help the team maintain its lead in the battle to expand Ethereum, removing the need for competing blockchains and opening the door for widespread adoption of Web3 apps.

Polygon is the platform of choice for building on the blockchain today, according to Shailesh Lakhani, MD of Sequoia India. Thousands of developers from a variety of applications have chosen Polygon and their full suite of Ethereum scaling solutions. This is an enthusiastic and aggressive group that places a high priority on innovation. Sequoia Capital India is ecstatic to be the lead investor in this substantial funding transaction.

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