P0x Labs, the cryptographic development team behind Manta Network, has announced that it raised $25 million in a Series A funding round, with leading contributions from Polychain Capital and Qiming Venture Partners. The funding gives the company a $500 million valuation.
Additionally, Manta Network has introduced the testnet of its layer-2 infrastructure, Manta Pacific, within its ecosystem for zero-knowledge (ZK) applications, according to a company statement. The raised funds will be utilized to expand the network, attract more users and explore diverse use cases for Manta Pacific.