Share this article
VCs in Talks to Invest $50M–$150M in Polygon: Report
Investors like Sequoia Capital India and Steadview Capital are eyeing an investment in the Ethereum layer 2.
Updated May 11, 2023, 7:03 p.m. Published Dec 6, 2021, 10:15 a.m.
A group of venture capital (VC) investors are in talks to back Ethereum scaler Polygon with an investment of between $50 million and $150 million, according to a report from TechCrunch on Monday.
- Sequoia Capital India and Steadview Capital are looking to make the investment through the purchase of MATIC tokens, the native coin of the Polygon network, TechCrunch reported, citing sources familiar with the matter.
- Polygon is a layer 2 product, which works on top of primary blockchains in order to speed up transactions. It aims to solve the scalability problems associated with the Ethereum network, which has suffered from congestion and high fees.
- If the reported plans come to fruition, it would be a sign of confidence in India-based Polygon from the venture capital market in South Asia, something which has been difficult to attain.
- Polygon has previously experienced at least one instance of its early investors asking for money back when the market took a downturn, according to TechCrunch’s report.
- Polygon, Sequoia Capital and Steadview Capital did not immediately respond to a request for comment.
Read more: Polygon’s MATIC Token Jumps After 21Shares ETP Listing
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Most Influential 2025's Honorable Mentions
The crypto industry is ever-growing and ever-changing. It would be difficult to summarize it in 50 names. Here are a few final individuals and entities we wanted to make note of this year.
Top Stories
