Yesterday, San Francisco blockchain startup Solana Labs announced that it raised $314 million in funding to build a decentralized finance (DeFi) and Web3 ecosystem for its public blockchain.
Andreessen Horowitz and Polychain Capital led the private token sale, with participation from 1kx, Alameda Research, and others.
Some of the investment will go towards launching an incubation studio and a venture investing arm specifically for the Solana ecosystem. The studio will focus predominantly on platform building and developing decentralized applications.
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