In an investment round led by Runa, TON Labs raises $6 million

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TON Labs received $6 million in funding from Runa Capital, a venture capital company. The company is in charge of the Free TON blockchain’s production.

TON Labs, the development arm behind the Free TON blockchain, recently received $6 million in funding from Runa Capital, a venture capital company. The money would be used to create a new product ecosystem for the Free TON blockchain, which the company claims is the quickest decentralized protocol due to its dynamic sharding mechanisms.

The TON project itself is somewhat different from other blockchain projects.

The money would be used to create a new product ecosystem for the Free TON blockchain, which the company claims is the quickest decentralized protocol due to its dynamic sharding mechanisms. TON Labs is the first blockchain company to obtain direct funding from Runa Capital, according to Dmitry Chikhachev, a general partner at the firm.

“As a deep tech and software investor, we appreciate the technical challenges solved by the company and see a strong potential in the high-performance decentralized computing platform FreeTON,” he added.

The team, their sophisticated methodology, and the open-source TON project itself, according to the general manager, are drastically different from other blockchain projects, and Runa is delighted to help such a special project.

In the first quarter of 2021, blockchain companies earned $2.6 billion in funding.

Over 129 blockchain and crypto companies earned $2.6 billion in investments in Q1 2021, according to data from tech business intelligence platform CB Insights. The total is also higher than the previous full year, when blockchain companies just received $2.3 billion in 341 transactions. Starting this year, the crypto industry received a lot of attention as bitcoin, the most famous cryptocurrency, reached new all-time highs and attracted big names. Dapper Labs had previously raised $305 million in funding from investors including Michael Jordan and Kevin Durant, with Coatue leading the round.

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