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MegaETH - Undisclosed
Overview
Funding Date
December 13, 2024
Financing amount
$10M
Valuation
--
Category
Subcategory
About MegaETH - Undisclosed
MegaLabs, the developer of a "real-time" blockchain called MegaETH, raised $10 million in under three minutes on Echo, the angel investor platform founded by popular crypto trader Jordan Fish, better known as Cobie. MegaLabs initially aimed to raise $4.2 million and hit that target in just 56 seconds after the sale went live late Thursday. Due to overwhelming investor demand, the project decided to raise an additional $5.8 million, which was fully funded in 70 seconds.
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..