Sei Labs, the company behind the Sei layer 1 blockchain, has succeeded in raise $30 million in two rounds of funding, according to a recent press release. The funds will be used to support Sei Labs’ growth and facilitate its expansion into the Asia-Pacific region. Leading investors such as Jump Crypto, Distributed Global, Multicoin Capital, Asymmetric Capital Partners, Flow Traders, Hypersphere Ventures And Bixin Ventures participated in the rounds, bringing the post-funding valuation to $800 million.
ICYMI: Sei Labs Raises $30M to Build the Fastest Layer 1
Sei Labs has raised $30 million in two strategic funding rounds from top investors, including Jump, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere, and Bixin Ventures. pic.twitter.com/SuHFEbGVOM
— Sei
(@SeiNetwork) April 12, 2023
(@SeiNetwork) Sei wants to become the fastest layer 1 for decentralized trading
sei is an open-source blockchain from layer 1 specifically designed to enable decentralized exchanges and trading applications to provide users with a fast and efficient way to trade assets. THE testnet (testnet) public from sei was launched on March 13 and has since attracted over 3.6 million unique users, a testament to its growing popularity and potential. Many community members crypto also speculate around a airdrop potential and interact with the network in this sense.
Despite the current bear market for crypto currencieswhich has limited investments in the industry, blockchain infrastructure projects like sei have proven to be one of the most resilient categories. Jayendra Jogco-founder of Sei Labssaid in the press release:
Infrastructure and applications historically come in cycles – Ethereum and the latest generation of public blockchains have led to a Cambrian explosion of news decentralized applications over the past two years. Among these applications, exchanges and trading have achieved the best product-market fit, but are held back by blockchains from obsolete layer 1. Our mission at Sei is to build the best infrastructure for trading.
Jayendra Jog, co-founder of Sei Labs
The recent success of funding from Sei Labs highlights the growing interest in advancing blockchain technology to improve the trading experience on decentralized platforms. With the backing of leading investors and a clear vision for the future, Sei Labs wants to be well placed to build a state-of-the-art infrastructure that will transform trading on layer 1 blockchains and open up new possibilities in the rapidly changing world of decentralized finance.
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