Companies continue to raise money despite the market conditions. Mysten Labs, the company behind the yet-to-launch layer-1 blockchain Sui, has raised $300 million to build core infrastructure and accelerate the adoption of its Sui blockchain ecosystem.
Mysten co-founder and CEO Evan Cheng said the new funding would be used to build its technology, the company’s hiring efforts and expansion to the Asia-Pacific region.
“This new funding will enable Mysten to continue to scale Sui, and we are grateful for the support from blue-chip investors and strategic partners who are aligned in our mission.”“It’s slow, expensive, capacity constrained, insecure, and simply hard to build for.” The latest funding suggests that some venture capital investors remain unphased by the crypto bear market. A recent report from Messari revealed thatRelated:
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