Former Meta execs raise $300M to 'accelerate adoption' of Sui blockchain
Investors included FTX Ventures, Coinbase Ventures, Jump Crypto, a16z, Circle Ventures, among others.
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Mysten Labs, the company behind Sui, the yet to launch Layer 1 blockchain, has raised $300 million to build foundational infrastructure and accelerate adoption of its blockchain ecosystem. Sui blockchain.
The blockchain company, which was founded by former executives of social media giant Meta in 2021, said in a Sept. 8 announcement that it landed $300 million in a round series B funding round led by crypto exchange arm FTX Ventures.
: Today, we are thrilled to announce our $300 million Series B funding round. This milestone marks the technical strength and immense potential of our Sui ecosystem. #Suinami 1/ pic.twitter.com/wQ8WH1egyY
— Followed by Mysten Labs (@Mysten_Labs) September 8, 2022Other Series B investors included Coinbase Ventures, Jump Crypto, Andreessen Horowitz's a16z, Circle Ventures, Binance Labs, and O'Leary Ventures, among other investment funds and partners, with the new capital valuing the company at more $2 billion.< /p>
In addition to equity, investors will receive warrants for native tokens to trade on the future blockchain.
Mysten is the creator of the Sui blockchain, a layer 1 proof-of-stake blockchain that uses a feature called "transaction parallelization" to achieve high throughput, low latency transactions, and low transaction fees, which which can give existing blockchains like Ethereum and Solana a run for their money.
Mysten co-founder and CEO Evan Cheng said the...
Investors included FTX Ventures, Coinbase Ventures, Jump Crypto, a16z, Circle Ventures, among others.
New
Mysten Labs, the company behind Sui, the yet to launch Layer 1 blockchain, has raised $300 million to build foundational infrastructure and accelerate adoption of its blockchain ecosystem. Sui blockchain.
The blockchain company, which was founded by former executives of social media giant Meta in 2021, said in a Sept. 8 announcement that it landed $300 million in a round series B funding round led by crypto exchange arm FTX Ventures.
: Today, we are thrilled to announce our $300 million Series B funding round. This milestone marks the technical strength and immense potential of our Sui ecosystem. #Suinami 1/ pic.twitter.com/wQ8WH1egyY
— Followed by Mysten Labs (@Mysten_Labs) September 8, 2022Other Series B investors included Coinbase Ventures, Jump Crypto, Andreessen Horowitz's a16z, Circle Ventures, Binance Labs, and O'Leary Ventures, among other investment funds and partners, with the new capital valuing the company at more $2 billion.< /p>
In addition to equity, investors will receive warrants for native tokens to trade on the future blockchain.
Mysten is the creator of the Sui blockchain, a layer 1 proof-of-stake blockchain that uses a feature called "transaction parallelization" to achieve high throughput, low latency transactions, and low transaction fees, which which can give existing blockchains like Ethereum and Solana a run for their money.
Mysten co-founder and CEO Evan Cheng said the...
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