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MegaETH - Seed
Overview
Funding Date
June 27, 2024
Financing amount
$20M
Valuation
--
Category
Subcategory
About MegaETH - Seed
MegaLabs, the developer of a new blockchain called MegaETH, has raised $20 million in a seed funding round. The round was structured as equity plus token warrants and brought MegaETH's fully diluted token valuation to a "9-figure" amount. Dragonfly led the seed round, with Figment Capital, Robot Ventures, Big Brain Holdings and others participating. Angel investors, including Ethereum co-founder Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu and Jordan Fish, aka Cobie, also joined the round.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2018 | 132 | [email protected] | ||
| Fund | United States of America | 2018 | 46 | -- | ||
| Fund | United States of America | 2019 | 114 | [email protected] | ||
| Fund | United States of America | -- | 131 | -- | ||
| Angel Investor | Canada | -- | 11 | -- | ||
| Angel Investor | United States of America | -- | 7 | -- | ||
| Angel Investor | Unknown | -- | 10 | -- | ||
| Angel Investor | -- | -- | 8 | -- | ||
| Angel Investor | Canada | -- | 9 | -- | ||
| Angel Investor | United Kingdom | -- | 50 | -- |
Founders & Team
Shuyao Kong
Lei Yang
Yilong Li
Company Profile / Project Introduction
MegaETH is real-time Ethereum, streaming transactions at lightning speed -- sub-millisecond latency and over 100,000 transactions per second -- all while maintaining a symbiotic relationship with the Ethereum ecosystem.
MegaLabs was founded in early 2023 by Kong, a former global head of business development at Consensys, and Yilong Li, who holds a PhD in computer science from Stanford University and previously worked at software company Runtime Verification Inc..