An Indian cryptocurrency named Polygon, with significant presence in South Asia, Europe and Middle East and headquartered in Bengaluru, has managed to acquire an unknown amount of funding from Mark Cuban, a successful US-based tech entrepreneur with his net worth in the billions.
Mark also happens to be the owner of the Dallas Mavericks, a prominent team of Americas’s national basketball league called the NBA (National Basketball Association). He also appears on the reality TV show Shark Tank as one the investors. The show is about aspiring entrepreneurs with no funding presenting their startup ideas to the investors, who then either invest in these ideas or dismiss them.
Needless to say, Mark’s involvement will now surely help Polygon to expand its reach, especially into the US.
Mark’s official website describes Polygon as the first well-structured, easy-to-use platform for ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence.
Recently, CoinSwitch Kuber, another cryptocurrency based in Bengaluru raised an investment of $25 million from the Tiger Global Management and has thus achieved a valuation of over $500 million. CoinSwitch Kuber also stated that this was the first investment of Tiger Global in a cryptocurrency established in India.