Startup profile for Mysten Labs: latest funding, latest known valuation, total disclosed funding, investors, status, sources, and why the company is interesting. Part of the Venture Capital Tracker startup directory.
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Mysten Labs funding, valuation and investors

Builders of the Sui blockchain — high-throughput L1 from ex-Meta Diem engineers.

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Funding, valuation & investors

Answer-first snapshot

Latest funding

Series B

$300M · September 2022

Latest known valuation

Not publicly disclosed

Total disclosed equity funding

$336M

Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.

Current status

private

growth · Palo Alto, CA

Investors in latest funding

Lead: FTX Ventures

Other: Andreessen Horowitz Crypto , Lightspeed Venture Partners

Sources: latest funding Last verified: 2026-07-25

Overview

Mysten Labs builds Sui, a layer-1 blockchain using the Move programming language and object-centric data model for high-throughput decentralized applications. Founded by former Meta Diem/Novi engineers, Mysten raised a $36M Series A led by a16z crypto in December 2021 and a $300M Series B led by FTX Ventures in September 2022.

Why Mysten Labs is interesting

Ex-Meta Diem team shipping Move-language L1 — a16z led $36M Series A; FTX-led $300M Series B before FTX collapse; Sui remains top-20 chain by activity.

Product & use cases

Mysten Labs develops the Sui blockchain — object-based architecture enabling parallel transaction execution, sub-second finality, and Move smart contracts for gaming, DeFi, and consumer crypto apps.

  • High-throughput onchain gaming and NFTs
  • DeFi applications on Sui L1
  • Move-language smart contract development

Key facts

  • Series A (Dec 2021): $36M led by a16z crypto — CoinDesk
  • Series B (Sep 2022): $300M led by FTX Ventures — BusinessWire
  • Founded by ex-Meta Diem/Novi engineers

Funding history (newest first)

Series B

2022-09 $300M

Source: https://www.businesswire.com/news/home/20220901000000/en/

Series A

2021-12 $36M

Source: https://www.coindesk.com/business/2021/12/06/mysten-labs-raises-36m

Investors in our directory

Funds linked from Mysten Labs's profile — open a fund page for stage focus and related deal articles.

Andreessen Horowitz Lightspeed Venture Partners FTX Ventures

Competitive landscape

Edge: Move language safety plus object-centric model from Diem engineering team — technical pedigree rare among L1 startups.

Move-language L1s (Sui, Aptos) compete for Diem-alumni narrative and developer mindshare. Solana leads on ecosystem activity. FTX Ventures' collapse removed a major backer but Sui mainnet launched and maintains developer activity.

  • Aptos direct

    Also Move-language L1 from Diem alumni.

  • Solana direct

    High-throughput L1 competitor.

  • Ethereum L2s adjacent

    Scaling Ethereum rather than new L1.

  • Avalanche direct

    Multi-chain L1 platform.

Notable stories

  • Mysten Labs founders worked on Meta's Diem (formerly Libra) blockchain before Meta shut the project — they carried Move language expertise to Sui.

Industries

Crypto & Web3 Infrastructure & Cloud

FAQs about Mysten Labs

Practical answers founders, operators, and investors typically search for.

Company building the Sui layer-1 blockchain.
High-throughput L1 blockchain using Move language and object-centric model.
a16z (/fund/andreessen-horowitz) led Series A. FTX Ventures led $300M Series B.
Both Move-language L1s from Diem alumni; different architecture choices.
Both target high throughput; different technical approaches (Move vs Rust).
May 2023.
FTX collapsed November 2022; impact on Mysten cap table not fully public.
Ex-Meta Diem/Novi engineers including Evan Cheng.
Not publicly disclosed.
a16z crypto-backed L1 infrastructure.
Website All startups Funding news

By Venture Capital Tracker

Last updated:

Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.