Polyhedra completes $20 million in funding, new public chain Berachain plans to raise an additional $69 million

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Polyhedra Network Completes $20 Million Funding Round

According to CoinDesk, Polyhedra Network, the developer of zkBridge based in Singapore, has completed a $20 million funding round, valuing the company at $1 billion.

The funding round was 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

• Web3Port Foundation

The raised funds will be used to advance Polyhedra Network's global expansion plans and hire new employees, marking the fifth funding round for Polyhedra in the past two years.

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Berachain Looking to Raise $69 Million Again?

According to Bloomberg, Berachain, an EVM public chain based on Cosmos SDK, is attempting to sell tokens for fundraising to achieve a valuation of $1.5 billion.

Sources claim that this funding round exceeds $69 million, led by Brevan Howard Digital and Framework Ventures, both of whom, along with Berachain, have not responded to requests for comments.

Berachain has a three-token mechanism, including:

• Liquidity reward BGT

• Native token BERA

• Stablecoin Honey

Berachain's testnet was launched in January, with previous investors including Polychain Capital, Hack VC, Robot Ventures, and other venture capital firms.