TON Labs raises $6M in support of Free TON blockchain

TON Labs raises $6M in support of Free TON blockchain


TON Labs, the development arm behind the Free TON blockchain, raised $6 million through an investment round led by venture capital firm Runa Capital. 

The funding will go toward building out a new product environment for the Free TON blockchain, which the company describes as the fastest decentralized protocol due to its unique dynamic sharding mechanisms.

Dmitry Chikhachev, a general partner at Runa Capital, said TON Labs is the only blockchain company to receive direct funding from his firm.

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“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 decentralised computing platform FreeTON,” he said, adding:

“The team, their sophisticated approach and the open-source TON project itself radically differ from other ventures in the blockchain space, and Runa is thrilled to support such a unique project.”

In addition to Runa Capital, RTP Global — an investor of early-stage technology companies — also contributed to the funding round. RTP

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