The startup of immigrants from META attracted $ 300 million from FTX Ventures and other investors

Founded by the team of ex-employees of META, the startup Mysten Labs closed the round of financing of the series B by $ 300 million when estimated at $ 2 billion. Funds will be directed to the creation of basic infrastructure and acceleration of the introduction of blockchain SUI.

📢: 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🌊 one/🧵 Pic.Twitter.COM/WQ8WH1EGYY

– Sui by Mysten Labs (@mysten_labs) September 8, 2022

The company intends to increase the team and develop expansion in the Asia-Pacific region.

Investrand headed FTX Ventures. Coinbase Ventures, Jump Crypto, Andreessen Horowitz, Circle Ventures, Binance Labs, O’leary Ventures and others were also provided.

Investors will receive shares in joint -stock capital, as well as warrants for their own tokens.

SUI will be based on the Proof-OF-Stake consensus algorithm and use transactions parallelization to achieve high throughput, low delay and small commissions.

The project also intends to solve the problems of improving the processes of attracting customers, interacting with developers and increasing the number of use scenarios.

In an interview with Cointelegraph, the co-founder and CEO Mysten Labs Evan Chang said that the current Web3 infrastructure is similar to a state in the era of modems-“Slowly, expensive, with disabilities, unsafe and simply difficult to build”.

In 2018, Cheng moved from the post of head of the Department of Engineering issues on Facebook for the post of director for blockchain-engineering.

The co -founder of Mystic Labs was joined by former engineers of Sam Blackshire and George Danesis, as well as the head of the NOVI Project Department Anya Abiodun.

Recall that in December 2021, the startup attracted $ 36 million.

Earlier, the “scalable blockchain for billions of people” Aptos closed the round of the AS financing A for $ 150 million.

The founders of the startup in the past worked on the Diem (previously Libra) project from Facebook.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.