Sei Labs, a leading Tier 1 blockchain developer, has recently raised $30 million in its latest funding round, valuing the company at $800 million.
Notable investors such as Jump Crypto, Distributed Global, Multicoin Capital, Asymmetric Capital Partners, Flow Traders, Hypersphere Ventures, and Bixin Ventures have contributed to the round.
Co-founder Jayendra Jog emphasized the company’s primary goal of developing top-notch infrastructure for exchanges, which includes not only DeFi but also other applications experiencing increasing demand.
Sei Labs is also actively working on developing NFT trading platforms and games.
The funds raised will help Sei Labs attract strategic partners, expand its presence in the Asia-Pacific region, and support the launch of its main network later this year.
Additionally, the company raised $5 million in a seed round last August and launched a $50 million ecosystem and liquidity fund in September to bolster new DeFi applications on its platform.
In January, QuickNode, a blockchain development platform, raised $60 million in funding to expand its business and attract more Web3 developers and users.