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Web3 Startup Mysten Labs Aiming for $2B Valuation in Latest Funding: Report
FTX Ventures is reportedly leading this round for Mysten, which was founded by former Meta (Facebook) executives.
By Brandy Betz
Updated May 11, 2023, 5:36 p.m. Published Jul 11, 2022, 9:18 p.m.
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.
- 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.
- In December 2021 Mysten raised $36 million in a Series A funding round led by Andreessen Horowitz.
Mysten Labs didn't responded immediately to a request for comment.
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