Mysten Labs, the company behind the yet-to-launch layer-1 blockchain Sui has raised $300 million aimed at building core infrastructure and accelerating the adoption of its Sui blockchain ecosystem.
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 Series B funding round led by crypto exchange venture arm FTX Ventures.
: Today, we're excited to announce our $300M Series B funding round. This milestone signals the technical strength & immense potential of our Sui ecosystem. #Suinami 1/ pic.twitter.com/wQ8WH1egyY
— Sui by Mysten Labs (@Mysten_Labs) September 8, 2022
Other 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 over $2 billion.
In addition to equity, investors will receive warrants for...
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