# Manta Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/manta-network

- Industry: Software
- Headquarters: Boston, US
- Website: www.manta.network
- Total disclosed funding: $26M
- Latest round: Series A (Jul 19, 2023)
- Investors on record: 14

## About

Manta Network is a US-based provider of modular blockchain solutions focused on zero-knowledge applications, enhancing performance while minimizing costs for decentralized applications and services across various sectors.Manta Network was founded in 2020 in Boston, US, specializing in modular blockchain solutions. The company has successfully completed 4 deals, with its latest funding round, Series A, taking place on July 19, 2023, where it raised USD 25.00 mn from investors including Polychain Capital and Qiming Venture Partners. The founder, Victor Ji, has a history of innovation in the blockchain space.Manta Network specializes in modular blockchain solutions tailored for zero-knowledge (ZK) applications, with a focus on enhancing performance while minimizing costs. Their core offerings include a ZK stack built on Polkadot, a modular Layer 2 solution utilizing Celestia Data Availability on Ethereum, and innovative programs such as CeDeFi and Gas Gain that aim to deliver tangible benefits to end users. These products enable developers and businesses to build decentralized applications (dApps) that bridge the gap between Web2 and Web3. Their target client base spans finance, data privacy, and decentralized finance (DeFi), with a geographical reach that includes North America, Europe, and Asia. The ecosystem supports over 200 projects actively utilizing Manta's solutions.Manta Network's revenue model is primarily driven by transaction fees associated with its blockchain services and products. This structure includes B2B partnerships where developers and enterprises access Manta's blockchain infrastructure for their applications, engaging with services such as decentralized finance offerings and liquidity protocols, facilitating real-time transactions that may involve swapping assets or staking tokens. Revenue is generated from the flagship service, which includes high-performance DeFi tools that enhance liquidity and transaction efficiency, with competitive transaction fees promoting adoption within the blockchain ecosystem.In July 2023, Manta Network raised USD 25.00 mn in Series A funding, co-led by Polychain Capital and Qiming Venture Partners, with participation from Alliance DAO, CoinFund, and SevenX Ventures. The company plans to utilize these funds to expand its market reach, focusing on new product developments and geographic expansion.

## Funding rounds

- Series A, Jul 19, 2023, $25M — Qiming Venture Partners, Polychain Capital, CoinFund Management, SevenX Ventures, Alliance DAO
- Seed, Feb 2, 2021, $1.1M — Three Arrows Capital, Polychain Capital, Multicoin Capital, Hypersphere Ventures, Alameda Research Ventures, Rarestone Capital, DeFiance Capital, AU21 Capital, Genblock Capital, BTC12 Capital

## Investors

- Three Arrows Capital — Seed
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Seed, Series A
- Multicoin Capital (https://capitalatlas.ai/funds/multicoin-capital) — Seed
- Hypersphere Ventures (https://capitalatlas.ai/funds/hypersphere-ventures) — Seed
- Alameda Research Ventures (https://capitalatlas.ai/funds/alameda-research-ventures) — Seed
- Rarestone Capital (https://capitalatlas.ai/funds/rarestone-capital) — Seed
- DeFiance Capital — Seed
- AU21 Capital (https://capitalatlas.ai/funds/au21-capital) — Seed
- Genblock Capital (https://capitalatlas.ai/funds/genblock-capital) — Seed
- BTC12 Capital — Seed
- Qiming Venture Partners (https://capitalatlas.ai/funds/qiming-venture-partners) — Series A
- CoinFund Management (https://capitalatlas.ai/funds/coinfund-management) — Series A
- SevenX Ventures (https://capitalatlas.ai/funds/sevenx-ventures) — Series A
- Alliance DAO — Series A