Sei Labs Closes $5 Million Seed Round Led by Multicoin Capital

Sei Labs, a crypto startup founded by Goldman Sachs and Robinhood Markets Inc. Veterans, has closed a $5 million seed round led by Multicoin Capital with participation from Coinbase Ventures, GSR, Flow Traders and others. The funds raised will be used to fund the growth of its network. The company is reportedly developing Sei, a blockchain aimed at speeding up DeFi transactions, which is a Layer 1 blockchain built using the Cosmos SDK and Tendermint and has a built-in order book.