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MegaLabs, the brain behind a new Ethereum (ETH) scaling protocol, raised $20 million in a seed round led by Dragonfly Capital. Announced on June 27, the round included noteworthy angel investors like Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin, EigenLayer creator Sreeram Kannan, and Hasu of Flashbots. According to MegaLabs, the fresh capital injection will accelerate the development of its MegaETH protocol. The company plans to launch a testnet within the coming months.
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