Sui Developer Mysten Labs Raises $300 Million to Address Web3 Scalability
Mysten Labs, developer of a new blockchain project called Sui, raised $300 million in its latest funding round. The round, which was led by FTX ventures, also had the support of A16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, and Coinbase Ventures, among others. The funds will be directed to continue growing Sui’s infrastructure and core, hiring in the Asia Pacific area for this task. Mysten Labs Reaches $2 Billion Valuation in Series B Funding Round Mysten Labs, a company founded by Meta’s former employees that worked on the Novi project, has achieved a significant milestone for its future. The company reported having raised $300 million in its Series B funding round. The round was led by FTX Ventures and had the participation of many venture capital firms, including A16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, and Lightspeed Venture Partners, among others. This funding round allowed the company to rea