TechFlow News, according to The Block, MegaLabs, the developer behind MegaETH, has announced the completion of a $20 million seed funding round. Investors include Dragonfly, Ethereum co-founder Vitalik Buterin, and Joseph Lubin. This funding brings MegaETH's fully diluted token valuation to at least $100 million.
MegaLabs was founded in early 2023 by Kong, former Global Business Development Lead at ConsenSys, and Yilong Li, who holds a PhD in Computer Science from Stanford University. MegaETH positions itself as the first fully Ethereum-compatible real-time blockchain, capable of processing transactions immediately upon arrival and publishing result updates in real time. The project plans to launch its public testnet this fall and go live on mainnet before year-end.
