In a move to bolster its capabilities and expand its reach, MANTRA, a layer-1 blockchain platform specializing in real-world asset tokenization, has successfully secured an $11 million investment round.

The round was led by Shorooq Partners, a venture and technology company based in the MENA region. Alongside Shorooq Partners, other notable participants in the fundraising included Three Point Capital, Forte Securities, Virtuzone, Hex Trust, and GameFi Ventures.

Shane Shin, Founding Partner of lead investor, Shorooq Partners stated: “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.”

Fresh $11M Funds

The primary focus of this funding round is to facilitate the development of a regulatory-compliant infrastructure on the MANTRA Chain. This infrastructure aims to empower developers to construct protocols specifically tailored for tokenizing real-world assets (RWAs).

Additionally, MANTRA intends to utilize the funds to further its efforts in expanding the tokenization of real-world assets while also targeting investment opportunities in both the MENA region and Asia.

John Patrick Mullin, the CEO of MANTRA, expressed his enthusiasm regarding the funding, stating: "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." Mullin emphasized the company's dedication to fostering an infrastructure tailored for builders, institutions, enterprises, and users interested in exploring RWAs.

Tokenized RWAs

One of MANTRA's core objectives is to accelerate the adoption of tokenized RWAs, particularly by institutional investors. The platform offers a compliant framework that facilitates the creation and trading of RWAs, thereby enabling institutions to leverage the opportunities presented by blockchain technology.

This recent announcement closely follows the release of MANTRA Chain's incentivized testnet, named Hongbai. The name Hongbai symbolically merges Hong Kong and Dubai, underscoring these two financial hubs as potential catalysts for blockchain adoption in the MENA and Asia regions.

Web3 and MENA

Shane Shin, Founding Partner of lead investor Shorooq Partners, highlighted MANTRA's pioneering approach to RWA tokenization and its adherence to regulatory compliance. Shin emphasized the strategic significance of MANTRA's focus on key markets such as Hong Kong and Dubai, aligning with Shorooq Partners' vision for financial innovation and inclusion.

According to Shin, the investment signifies more than mere technological advancement; it represents an investment in a future where digital and traditional assets seamlessly converge. This strategic investment reflects growing confidence in web3 and its potential to reshape the landscape of real-world asset tokenization.