Pheasant Network disclosed a $2 million seed round along with an ecosystem fund, according to COINOTAG News on December 10. The financing was led by mint, with participation from 90s and several individual investors. Backing also came from the Ethereum Foundation, Optimism Foundation, Polygon Labs, and multiple Layer 2 ecosystems, underscoring confidence in the project’s cross‑chain strategy.

The capital will accelerate work on a more intelligent cross‑chain experience, embedding artificial intelligence into the core of DeFi. Framed as DeFAI, the initiative seeks to enhance interoperability, liquidity sourcing, and user onboarding across multi‑chain protocols, signaling a strategic emphasis on AI‑driven DeFi tooling.

CEO Tomo characterized the effort as a DeFAI project that blends AI with intent to advance DeFi cross‑chain interoperability, noting continued support from the Ethereum Foundation and leading L2 ecosystems. The milestone establishes a clear path for AI‑first cross‑chain development and ecosystem collaboration.