According to ChainCatcher, MegaLabs, the developer of the blockchain MegaETH, has completed a $20 million financing round, led by Dragonfly, with participation from Figment Capital, Robot Ventures, and Big Brain Holdings.

This round of financing has brought MegaETH's fully diluted token valuation to at least $100 million. In addition, MegaETH's public testnet will be launched this fall, and the mainnet is expected to be launched at the end of the year.