Blockchain startup MANTRA raises $11M in funding to bring RWA tokenization to the Middle East and Asia
MANTRA, a blockchain startup and Layer 1 blockchain for Real World Assets (RWA), has clinched a significant milestone with the completion of a new funding round. Leading the charge is Shorooq Partners, a prominent venture capital and technology investor in the MENA region, spearheading an $11 million investment. The round also saw participation from a diverse array of strategic backers such as Three Point Capital, Forte Securities, Virtuzone, Hex Trust, GameFi Ventures, and others.
The infusion of fresh capital is poised to supercharge MANTRA’s mission of facilitating RWA tokenization at scale. The funds will be strategically allocated towards three pivotal objectives: erecting regulatory-compliant infrastructure conforming to global standards, equipping developers with the requisite tools to forge RWA-focused protocols on the MANTRA Chain, and amplifying the tokenization of real-world assets while spotlighting lucrative market prospects between the Middle East and North Africa (MENA) as well as Asia.
By leveraging blockchain technology, MANTRA aims to democratize investment avenues across the Middle East and Asia, bolstering market liquidity and fostering growth. This democratization drive holds the promise of catalyzing economic activity and spurring development in regions historically beset by barriers to financial market entry. Simplifying asset transactions is envisioned to unlock new vistas for investment, nurture entrepreneurship, and entice global investors, in harmony with the aspirations of both regions to spearhead financial innovation, fueling economic expansion and prosperity.
Pioneering the acceleration of tokenized RWAs, MANTRA aims to unlock billions of dollars in institutional capital through its MANTRA Chain framework. This framework provides a compliant ecosystem for the origination and exchange of RWAs, empowering Traditional Finance (TradFi) entities to harness the manifold benefits offered by blockchain technology. Positioned at the nexus of burgeoning interest in digital assets and blockchain solutions, MANTRA stands poised to deliver tangible, secure, and stable blockchain applications.
The $11 million funding injection coincides with the unveiling of Hongbai, the incentivized testnet for MANTRA Chain. Aptly named after the financial hubs of Hong Kong and Dubai, Hongbai underscores MANTRA’s concerted efforts to onboard these two pivotal markets. The rollout of the MANTRA Chain testnet is slated to forge literal and metaphorical bridges between the Middle East and Asia, setting a new benchmark for RWA tokenization and fostering cross-border economic collaboration. This collaborative endeavor promises to catalyze the exchange of ideas, resources, and investment prospects, enriching the economic tapestry of both regions.
John Patrick Mullin, CEO of MANTRA, said: “This funding infusion not only expedites our vision of ushering the global financial ecosystem onto the blockchain but also underscores our steadfast commitment to the Hong Kong and Middle Eastern markets, where our physical outposts in Hong Kong and Dubai serve as bastions of innovation. We are crafting an infrastructure tailored for builders, institutions, enterprises, and users eager to explore RWAs, underscoring our mission of making asset tokenization a cornerstone of financial inclusivity and market development.”
Shane Shin, Founding Partner of lead investor Shorooq Partners, echoed these sentiments, stating: “MANTRA captivated us with its pioneering approach to RWA tokenization and its unwavering dedication to regulatory compliance. Their strategic emphasis on pivotal markets such as Hong Kong and Dubai aligns seamlessly with our vision for financial innovation and inclusion. Our investment extends beyond technology; it’s an investment in a future where digital and traditional assets seamlessly converge. MANTRA is poised to spearhead this transformation, and we are thrilled to support their journey.”