Billionaire Mark Cuban invests in Indian Ethereum platform Polygon

• Polygon runs an Ethereum-based blockchain platform, which is designed to help make decentralised finance (DeFi) apps.
• The company did not reveal how much the investment is worth, or what it will do with the money.
• It is also unclear whether Cuban’s investment is part of a bigger funding round.

Billionaire Mark Cuban has made an investment in Indian crypto and blockchain firm, Polygon.


The company is also included in Cuban’s portfolio website, now. Cuban, who is known to be an avid Silicon Valley investor, has a net worth of $4.4 billion, according to Forbes. He also owns National Basketball Association (NBA) franchise, the Dallas Mavericks, and has been one of the biggest celebrity supporters of cryptocurrencies alongside Tesla’s chief executive Elon Musk. Cuban has also invested in nine other blockchain startups.


The company did not reveal how much the investment is worth, or what it will do with the money. However, co-founder Sandeep Nailwal told Mint that it has been in talks with “many investors”. It is unclear whether Cuban’s investment is part of a bigger funding round.

Polygon runs an Ethereum-based blockchain platform, which is designed to help make decentralised finance (DeFi) apps that are secure and easy to use. The company was founded in 2017 by Nailwal, Jaynti Kanani and Anurag Arjun. It added Serbian Mihailo Bjelic as a co-founder later. The company was originally known as Matic, but changed its name to Polygon in 2019. “While we were grinding it out day by day and putting in the work to build Matic, we realised that our branding should mirror our beliefs and represent the idea and the vision Matic is working on,” the company said at the time.

Nailwal is also the man behind a crypto-based Covid-19 relief effort in India, called India Covid Relief Fund. The fund received a billion dollar donation from Ethereum founder Vitalik Buterin earlier this month, and may have helped raise Polygon’s value as well. The company has seen success recently, which may mean that it needs a fresh fund infusion.

Polygon’s crypto token (by the same name) entered the top 20 cryptocurrencies in the world earlier this month. Its value was pegged at around $13 billion on May 18, and had risen to over $14 billion on May 26 (at 11.40 a.m. India time).


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