Avalanche developer raising $350 million at $5.25 billion valuation: Report

Ava Labs, the main developer of the Avalanche blockchain, is said to be raising $350 million in new funding at a $5.25 billion valuation.

April 14, 2022, 3:43AM EDT · 1 min readAva Labs, the main developer of the Avalanche blockchain, is reportedly raising $350 million in new funding at a $5.25 billion valuation.the new fundraising on Thursday, citing people familiar with the discussions — although only one source gave the valuation.The Avalanche blockchain was launched in September 2020 by Ava Labs as an"Ethereum killer.

Ava Labs and related entities have raised nearly $250 million to date from high-profile investors. Last September, the Avalanche Foundation in a token sale led by Polychain and Three Arrows Capital. It had previously raised $18 million in two rounds.

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