Quick take:
- The company will use the funds to advance its goal of enabling the tokenisation of real-world assets.
- The company plans to construct a regulatory-compliant infrastructure for the development of RWA-focused protocols on MANTRA Chain.
- The company will also seek to invest in market opportunities in the MENA region and Asia.
MANTRA, a layer-1 blockchain focused on the tokenisation of real-world assets has completed an $11 million investment round led by the MENA-based venture and technology company Shorooq Partners.
The fundraising also attracted participation from Three Point Capital, Forte Securities, Virtuzone, Hex Trust, GameFi Ventures and others.
The company plans to use the funds to achieve three key objectives including the construction of a regulatory-compliant infrastructure that empowers developers to build RWA-focused protocols on MANTRA Chain. The company will also use the funds to expand the tokenization of real-world assets and target investment opportunities in the MENA region and Asia.
MANTRA’s goal is to accelerate the adoption of tokenized RWAs by onboarding institutional investors on-chain. The company’s platform provides a compliant framework for the creation and trading of RWAs, enabling institutions to tap into opportunities created by blockchain technology.
This announcement follows MANTRA chain’s release of its incentivised testnet Hongbai. Its name is formed by combining Hong Kong and Dubai, which highlights the two key financial hotspots that it sees as potential accelerators of blockchain adoption in the MENA and Asia regions.
John Patrick Mullin, MANTRA’s CEO, said: “This funding not only accelerates our vision of bringing the world’s financial ecosystem on-chain but also solidifies our commitment to the Hong Kong and Middle Eastern markets, where our physical offices in Hong Kong and Dubai stand as beacons of innovation. We’re crafting an infrastructure designed for builders, institutions, enterprises, and users keen on exploring RWAs.”
Commenting on his company’s leading role in the investment round Shane Shin, Founding Partner of lead investor, Shorooq Partners added: “MANTRA stood out to us for its pioneering approach to RWA tokenization and its commitment to regulatory compliance. Their strategic focus on significant markets like Hong Kong and Dubai aligns with our vision for financial innovation and inclusion.”
According to Shin, this investment is more than just betting on technology. We are “investing in a future where digital and traditional assets converge seamlessly.”
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