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.
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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.