Mysten Labs (“Mysten” or the “Company”), a web3 infrastructure company and developer of the Sui Layer 1 blockchain, today announced the initial close of its $300 million Series B funding round. This new capital values the Company at more than $2 billion. The Company intends to use the proceeds from the round to continue building out the core infrastructure to power web3’s next wave of applications and accelerate the adoption of the Sui ecosystem. To make strides towards this mission, Mysten will keep hiring the best minds across the globe, with an important emphasis on the Asia-Pacific region.