Record-Breaking Fundraising Success
Ethereum scaling project MegaETH secured $10 million in only three minutes through the fundraising platform Echo. Initially aiming to raise $4.2 million, the team responded to immense demand by adding a second round, bringing the total to $10 million.
Unchanged Terms for Both Rounds
Both funding rounds maintained the same terms and fully diluted valuation (FDV) as Mega Labs’ $20 million seed round in June. This consistency reflects strong investor confidence in the project’s long-term potential.
Expanding Ecosystem and Community
Co-founder Shuyao Kong explained that the newly raised funds will be allocated to growing the MegaETH community and supporting ecosystem projects. By fostering innovation within its network, MegaETH aims to solidify its position in the Ethereum scaling landscape.
Conclusion
MegaETH’s rapid fundraising highlights significant interest in Ethereum scaling solutions. With fresh capital, the project is poised for impactful growth.
