Web3 Company Led by Former Meta Execs Raises $300 Million in Series B Funding
The company will use the funds to continue building its core infrastructure. A Web 3 infrastructure startup called Mysten Labs has announced the initial close of its $300 million (approximately Rs. 2,400 crore) Series B funding round. Mysten Labs is also the creator of the yet-to-launch Sui Layer 1 blockchain. A16z Crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and O'Leary Ventures, among other investment funds and strategic partners, participated in the Series B round, which was led by FTX Ventures. The company is worth over $2 billion thanks to the new cash (roughly Rs. 15,900 crore). The company will use the money to keep developing its core infrastructure in order to scale the Sui ecosystem and power Web 3 apps. Additionally, it will be growing its international staff, with a key focus on the Asia-Pacific area. For...