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Web 3 Startup Mysten Labs Aiming For $2B Valuation in Latest Funding: Report

Brandy Betz - Coindesk
2022-07-12 02:18
Mysten Labs is in talks to raise at least $200 million in Series B funding at a $2 billion valuation, according to The Information sources.
  • Investors – led by FTX Ventures – have committed at least $140 million for this round, according to the report.
  • CoinDesk reached out to Mysten Labs for comment but hadn’t received a reply by press time.
  • Mysten Labs, which launched its decentralized blockchain Sui in March, was founded by veterans of Novi Research, the crypto research and development division of Meta (formerly Facebook). Among the co-founders is CEO Evan Cheng, who formerly served as head of research and development for Meta’s crypto wallet initiative.
  • Mystern in December 2021 raised $36 million in a Series A funding round led by Andreesen Horowitz.
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