TechFlow news, on December 14, according to The Block, MegaETH developer MegaLabs has raised $10 million on Echo. Echo is an angel investment platform created by renowned cryptocurrency trader Jordan Fish, also known as Cobie.
MegaLabs initially aimed to raise $4.2 million and hit that target in just 56 seconds after the sale went live late Thursday. Co-founder Shuyao Kong said that due to strong investor demand, the project decided to raise an additional $5.8 million, which was fully committed within 70 seconds.
Shuyao Kong added that the structure of the Echo round consists of equity plus token warrants, the same as MegaLabs' $20 million seed funding round in June. Both rounds were valued at hundreds of millions of dollars.
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