Trading-oriented blockchain Sei raises $30 million

Sei Labsthe startup behind the layer1 Seihas just collected 30 million dollars to a valuation of $800 million. Ambition: to become the Nasdaq of the DeFi.

Founded by alumni of Robinhood, Google and Goldman Sachs, Sei Labs develops a layer 1 blockchain dedicated to decentralized finance and trading.

On Tuesday, the company announced that it had raised 30 million dollars in two separate rounds of financing, boosting its valuation to 800 million dollars. Jump Crypto, Distributed Global, Multicoin, Asymmetric and Flow Traders participated in the deal.

Sei Labs defines its network as the “ Decentralized Nasdaq ” or “the fastest layer 1 blockchain for the trading “. According to the startup, Sei enables DEX to deliver a “better” user experience with “modern” scalability and performance.

Exchanges and trading have achieved the clearest product-market fit, but are held back by outdated layer 1 blockchains. Our mission at Sei is to build the best infrastructure for trading,” commented Jayendra Jog, the startup’s co-founder.

Sei Labs will leverage the new funding to accelerate its global expansion, particularly in the Asia-Pacific region. The deal follows a previous $5 million fundraising round completed in the summer of 2022.

The company has now launched several testnets for its Sei blockchain, which have attracted a total of 3.6 million users according to the announcement, and is now working to launch the main network including the arrival of which seems imminent.

In the fall, Sei Labs announced the implementation of a 50 million dollar fund aimed at supporting developers in its ecosystem.

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