Mysten Labs was built to solve these problems by laying the foundation for a decentralized web stack suitable for mass adoption. At present, Mysten Labs has completed its first round of financing, a $36 million Series A financing led by a16z, with participants including Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Standard Crypto, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT , Lux Capital, Bienville, Hack VC, Finality Capital, Elad Gil and many other funds and angel investors in the web3 space.