This new capital values the Company at more than $2 billion. The Company intends to use the proceeds from the round to continue building out the core infrastructure to power web3's next wave of applications and accelerate the adoption of the Sui ecosystem. To make strides towards this mission, Mysten will keep hiring the best minds across the globe, with an important emphasis on the Asia-Pacific region.

The Series B round was led by FTX Ventures, and included participation from new and existing investors, including a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and O'Leary Ventures, among other investment funds and strategic partners.

Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives of Meta's Novi Research and lead architects of the Diem blockchain and Move programming language. The mission of Mysten Labs is to create foundational infrastructure for Web3.