Mark Cuban, a billionaire investor based in the United States, has made an investment in Polygon, an Indian layer 2 ethereum scaling solution, the startup's co-founder Sandeep Nailwal said.

Polygon is a protocol and framework for creating and linking Ethereum-compatible blockchain networks. Aggregating scalable Ethereum solutions to support a multi-chain Ethereum ecosystem. It can scale Decentralized app in 30 minutes or less.

Polygon announced that it has now joined Mark Cuban's company portfolio. Cuban, whose net worth is estimated to be $4.4 billion (according to Forbes) and who has investments in over 100 companies, is a prominent supporter of cryptocurrencies, particularly ether and dogecoin.

“We have spoken to many investors, but the discussion with Mark Cuban was truly mind-blowing. It was so spectacular to know that the nuances of the industry, the tech and adoption we had figured out after months of grind, he was already thinking about those and had those questions in mind," Nailwal said without divulging the terms of the deal.

Polygon (previously Matic Network) was founded in 2017 by three Indian software engineers: Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Later, Mihailo Bjelic of Serbia was added as a co-founder.

Polygon is the first well-structured, user-friendly ethereum scaling and infrastructure development platform. The company's goal is to make the current decentralised ecosystem more usable and convenient.

Polygon's base layer, Ethereum, has been chastised for having a high fee structure for enabling transactions. Layer 2 scaling projects like Polygon assist Decentralised Finance (DeFi) protocols in avoiding ethereum's high transaction costs, potentially opening up the platform to more users.

Polygon aims to address blockchain-related issues such as high gas fees and slow speeds while maintaining security.

Meanwhile, Cuban is expected to aid Polygon's expansion. According to reports, the owner of the Dallas Mavericks of the National Basketball Association (NBA) is integrating Polygon with Lazy.com, which allows people to easily display non-fungible tokens (NFTs).

In recent times, the demand for layer 2 scaling solutions has attracted capital inflows, which has fueled the rise in Matic tokens, Polygon's native cryptocurrency.

Matic, a crypto token made in India, has increased by more than 8,000 percent in the last year while remaining largely unaffected by the recent crypto market crash.

Matic has increased by more than 90% in the last 14 days, while bitcoin and ether have decreased by around 30% and 35%, respectively. Matic is one of the top 15 cryptocurrencies in the world, with a market capitalization of nearly $11 billion.