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Funding
MegaLabs raises USD 20 million in seed funding for product enhancement
Web3 Ecosystem
Jun 27, 2024
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Web3 Ecosystem

Web3 Ecosystem

Jun 27, 2024

MegaLabs raises USD 20 million in seed funding for product enhancement

Funding

  • MegaLabs, the developer behind the real-time Ethereum scaling protocol MegaETH, raised USD 20 million in a seed funding round led by Dragonfly Capital.

  • The funding will be utilized to further develop the MegaETH protocol and launch a testnet in the coming months. MegaETH processes transactions immediately as they receive, and is capable of processing 100,000 transactions per second.

  • MegaETH is a real-time Ethereum scaling solution designed to improve transaction processing speed and throughput on the Ethereum network.

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