According to Odaily, MegaLabs, the developer of MegaETH, has successfully completed a seed funding round, raising $20 million. The funding round was led by Dragonfly, with participation from Figment Capital, Robot Ventures, Big Brain Holdings, and several angel investors. These include Vitalik Buterin, Joseph Lubin, the founder and CEO of ConsenSys, Sreeram Kannan, the founder and CEO of EigenLayer, Kartik Talwar, a co-founder of ETHGlobal, Mert Mumtaz, a co-founder and CEO of Helius Labs, Santiago Santos, Hasu, and Jordan Fish, also known as Cobie.
This funding round has reportedly brought the fully diluted token valuation of MegaETH to at least $100 million. In addition, MegaETH's public test network is expected to go live this fall, with the main network anticipated to launch by the end of the year.
