News/Layer1 Blockchain Sei Raises $30M at $800M Valuation, with Multicoin Capital Involved

Layer1 Blockchain Sei Raises $30M at $800M Valuation, with Multicoin Capital Involved

Apr 11,2023,21:26

Cosmos-based Layer1 blockchain Sei announced it has raised $30 million at a $800 million valuation, with participation from Multicoin Capital, Jump Capital, Distributed Global and others. The funds raised will be used to help Sei gain strategic partners as well as expand its presence in the Asia-Pacific region.

Sei features a built-in central limit order book (CLOB), on top of which decentralized applications can be built. Other Cosmos-based blockchains can also leverage Sei's CLOB as a shared liquidity hub and create markets for any asset. Currently, Sei is live on the public testnet, and the mainnet is expected to launch in Q2 this year.

 

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