TechFlow News, according to The Information, Web3 startup Mysten Labs is planning a Series B funding round of at least $200 million at a $2 billion valuation, with investors led by FTX Ventures having already committed at least $140 million. According to a person familiar with the matter, the $2 billion valuation could still change depending on whether equity investors receive additional warrants granting them rights to purchase tokens used alongside its blockchain, and the exercise prices for these options.
Mysten Labs, developed by former Meta engineers Evan Cheng, Sam Blackshear, Adeniyi Abiodun, and George Danezis, is building a new blockchain called Sui designed to facilitate transactions between users at faster speeds than existing blockchains. Mysten Labs previously raised $36 million in December last year from investors including a16z.
