Web3 Startup Mysten Labs Seeks to Raise at Least $200 Million Series B Round at $2 Billion Valuation

Mysten Labs, a Web3 infrastructure startup founded by four former Meta engineers, is in talks to raise at least $200 million in Series B funding at a $2 billion valuation, with investors led by FTX Ventures having committed at least $140 million to the round so far. Previously, Mysten Labs closed a $36 million round of funding from a16z in December of last year. It plans to launch Sui, a Layer1 blockchain network, with the mainnet to be launched later this year, along with a native token.