# MegaLabs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/megalabs

- Industry: Internet
- Headquarters: US
- Website: www.megaeth.systems
- Total disclosed funding: $20M
- Latest round: Seed (Jun 28, 2024)
- Investors on record: 7

## About

Established in 2023 and based in the US, MegaLabs operates as a blockchain technology company focused on enhancing transaction performance on the Ethereum network. The company was founded by its CEO, Yilong Li, CTO Lei Yang, CBO Shuyao Kong, and Namik Muduroglu. In December 2024, MegaLabs raised USD 10 million in angel funding from new investor Echo.

The firm develops blockchain technology in the Ethereum scaling protocol called MegaETH. This technology is designed to address the challenges of slow transaction speeds and high fees that are often associated with other blockchains. The platform supports over 100,000 transactions per second, with sub-millisecond latency and transaction costs under $0.01, which are fully compatible with the Ethereum Virtual Machine (EVM).

The company will use the funding to support with ecosystem projects and the development of the business.

## Funding rounds

- Seed, Jun 28, 2024, $20M — Dragonfly Capital, Robot Ventures, Folius Ventures, Big Brain Holdings, Figment Capital, Tangent, Credibly Neutral

## Investors

- Dragonfly Capital — Seed
- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Seed
- Folius Ventures — Seed
- Big Brain Holdings (https://capitalatlas.ai/funds/big-brain-holdings) — Seed
- Figment Capital (https://capitalatlas.ai/funds/figment-capital) — Seed
- Tangent — Seed
- Credibly Neutral (https://capitalatlas.ai/funds/credibly-neutral) — Seed