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News

Pharos Network Raises $44M Series A With SNZ Holding Participation

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Layer 1 blockchain Pharos Network has reportedly completed a US$44 million Series A financing round with participation from SNZ Holding, according to unconfirmed reports circulating in Chinese-language crypto media. The claim has not been verified by official Pharos channels or major English-language outlets.

What Has Actually Been Confirmed About Pharos Funding

The $44 million Series A figure originates from a single unverified source and does not appear in any official Pharos Network announcement. No press release, company blog post, or statement from named investors has confirmed the round as of April 2026.

What is verified: Pharos Network raised $8 million in seed funding on November 8, 2024. That round was co-led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic anchor investor.

Verified Seed Round
$8 million
PRNewswire announcement dated November 8, 2024.
Seed Round Date
November 8, 2024
Official date of Pharos’s announced US$8M seed round.

Additional seed round investors included Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.

Separately, GCL New Energy Holdings finalized a strategic investment in Pharos in March 2026 at a valuation of nearly $1 billion, though the investment amount was not disclosed. It is possible that the undisclosed GCL deal has been conflated with an alleged Series A in some reports.

SNZ’s Role in Pharos and What It Signals

SNZ Capital (referenced in the headline as SNZ Holding) is a confirmed participant in the verified seed round. Its role as strategic anchor investor, rather than a passive financial backer, suggests deeper involvement in Pharos’s ecosystem development beyond capital deployment.

Strategic investors in Layer 1 projects often contribute validator infrastructure, developer connections, and liquidity partnerships. Whether SNZ participated in any subsequent unverified round remains unconfirmed.

The distinction matters for readers evaluating the credibility of the $44 million claim. If SNZ’s participation is being cited as evidence for a new round, it may instead refer to their already-confirmed seed involvement. Similar dynamics have played out in other crypto funding announcements where investor names from earlier rounds resurface in later reporting.

What Is Known About Pharos Network

Pharos describes itself as a full-stack parallel Layer 1 blockchain designed for real-world asset tokenization and institutional-grade DeFi. The project was founded by former Ant Group leadership and emphasizes built-in compliance features including ZK-KYC and AML modules.

The project’s testnet reports 174 million wallet addresses and targets throughput of 30,000 transactions per second. Mainnet launch is expected in Q2 2026, with no token yet live for trading.

RootData, a crypto fundraising database, lists Pharos’s total raised amount as $52 million. That figure would be consistent with an $8 million seed plus $44 million Series A. However, the $44 million component appears only in RootData’s unverified news aggregation section, not in its confirmed fundraising rounds, as new institutional blockchain financing activity draws increased attention.

Why the Verification Gap Matters

Layer 1 funding rounds are closely watched as signals of investor confidence in competing blockchain architectures. A confirmed $44 million Series A would place Pharos among the better-funded L1 projects of 2026, particularly as the broader market sits in a period of extreme fear with the Fear and Greed Index at 17.

No major English-language crypto outlet, including The Block, CoinDesk, or Cointelegraph, has independently confirmed the Series A. The official Pharos website lists only the $8 million seed round in its resources section.

Readers and investors should treat the $44 million figure as unconfirmed until Pharos Network or its investors issue an official statement. The verified funding history consists solely of the $8 million seed round and the undisclosed GCL New Energy strategic investment.

FAQ

Did Pharos Network raise $44 million in a Series A round?

This claim has not been confirmed by official sources. It originates from a single Chinese-language aggregator. The only verified Pharos fundraise is an $8 million seed round from November 2024.

What is a Series A financing round?

A Series A is typically the first major institutional funding round after seed capital. It signals a project has moved from concept validation to execution scaling, often funding engineering hires, ecosystem grants, and go-to-market operations.

What is SNZ Holding’s connection to Pharos?

SNZ Capital served as a strategic anchor investor in Pharos’s confirmed $8 million seed round. Any participation in a subsequent round has not been officially announced.

What should readers monitor next from Pharos Network?

Key milestones include the expected Q2 2026 mainnet launch, any official funding announcement from Pharos or its investors, and whether the project’s nearly $1 billion valuation holds through token launch.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.

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Avatar of Gabriel Silva

Gabriel Silva

08 April 2026, 12:42:30 GMT +0000

As a passionate writer from Brazil with extensive expertise in decentralized finance and blockchain technology, I have built a strong reputation for insightful analysis through contributions to platforms like CryptoSlate and DeFi Pulse. Now at Coincu.com, I am dedicated to delivering engaging, credible, and impactful coverage to the global crypto community.

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