Manta Network developer, p0x Labs, has raised $25m in a series A round led Polychain Capital and Qiming Venture Partners. Infrastructure projects have continued to be resilient during this bear market.

Manta Network, a modular eco-system for zero-knowledge applications (ZK), uses a cryptographic technique to mathematically verify that a transaction’s validity is not compromised.

Manta Atlantic, a layer 1 blockchain focused on ZK and designed to provide programmable privacy, was launched by the company in order to achieve this. Manta Pacific is a new layer 2 ecosystem that has been rolled out and is now available in the testnet. It aims to help developers deploy ZK-native applications on Ethereum Virtual Machine.

According to a announcement, the new capital will be used to scale up the network, the user base, and the use cases of Manta Pacific. It will also fuel expansion into key Asian markets. Alliance, CoinFund and SevenX Ventures were also investors in this round.

Luke Pearson, an investor at Polychain Capital, said: “We’re excited to see Manta expand into the Ethereum eco-system, and we have doubled our investment in this Series A round.” He added that “Manta Pacific’s performance capabilities will be enhanced by the modular ecosystem while also increasing ZK access through Universal Circuits.”

This raise is a result of Web3 infrastructure being a hot investment since the beginning this year, following last year’s FTX collapse. Binance’s most recent survey showed that the majority of institutional investors ranked infrastructure as their top investment. This was closely followed by layer 1, layer 2, and layer 3 projects.

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Aoyon A. Ashraf is the editor.