TechFlow news, according to sources, Ava Labs, the primary developer of the cryptocurrency Avalanche, is conducting a new round of fundraising with a valuation expected to exceed $5 billion, making it one of the world's highest-valued cryptocurrency startups. One of the sources indicated that the company will raise $350 million at a $5.25 billion valuation.
Ava Labs was founded in 2018 and raised $6 million in funding in 2019 from investors including venture capital giants Andreessen Horowitz (a16z) and Polychain. According to PitchBook data, the company has 170 employees.
Additionally, in September 2021, the Avalanche Foundation completed a $230 million private placement round led by Polychain and Three Arrows Capital.
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