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Sui is a high-performance Layer-1 blockchain developed by Mysten Labs, an organization founded by former executives and lead architects from Meta's Novi Research to provide foundational web3 infrastructure.
On December 6, 2021, Mysten Labs successfully closed its Series A Round, securing $36 million in institutional equity financing. The round was led by Andreessen Horowitz (a16z), with participation from Redpoint Ventures, Lightspeed Venture Partners, and Coinbase Ventures among other prominent funds. This capital injection was utilized to advance the development of the network's Narwhal consensus engine and natively integrate the Move programming language.
12-month cliff followed by linear release