Solana Labs raises $314 million in new funding led by A16z and Polychain Capital

Solana Labs raises $314 million in new funding led by A16z and Polychain Capital

Solana Labs, the developer of the Solana blockchain, has raised $314.15 million in a private token sale round led by Andreessen Horowitz (a16z) and Polychain Capital.

Other participants in the round included Alameda Research, CMS Holdings, CoinShares, Jump Trading, Multicoin Capital, Sino Global Capital, and many others. The news comes shortly after some reports said Solana could raise anywhere from $300 million to $450 million.

With fresh capital at hand, Solana Labs plans to launch an incubation studio to speed up the development of projects building on the Solana blockchain and set up a venture investing arm for the Solana ecosystem.

This is a developing story and will be updated.

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