Pharos Network has completed a Series A financing of $44 million, with a total financing amount of $52 million According to Foresight News, Pharos Network, a Layer 1 blockchain network targeting institutional level financial scenarios, announced the completion of a $44 million Series A funding round led by multiple undisclosed top institutions, including Asian private equity funds, new energy listed companies, and Hong Kong compliant financial institutions. Subsidiaries of Sumitomo Corporation, crypto native SNZ, Chainlink, and Flow Traders will participate in the investment, and the funds will be used to accelerate the construction of on chain real-world asset (RWA) infrastructure in Asia and globally. \Prior to this round of financing, Pharos had already completed a seed round of $8 million in November 2024, led by Lightspeed Faction and Hack VC, with other investors following suit, bringing the total financing to $52 million. Pharos testnet will be launched in May 2025, and developers can use this platform for application development and testing.