Fuel Labs raises $80 million for modular execution layer, touting superior speed

Quick Take

  • Fuel Labs has raised $80 million in a round led by Blockchain Capital and Stratos Technologies.
  • The startup hopes to offer the best developer experience in blockchain with its “modular execution layer.”

Fuel Labs, a startup that aims to speed up crypto transactions, has announced an $80 million funding round from some of the sector’s biggest investors.

Blockchain Capital and Stratos Technologies led the investment, according to an announcement on Tuesday, with Sam Bankman-Fried’s Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic and ZMT all participating. Ekram Ahmed, head of communications at blockchain developer Celestia Labs, is a strategic advisor.

The startup did not disclose further details of the raise, such as what valuation it placed on the project, or how the deal was structured. A spokesperson for the firm said it has no headquarters. Fuel last raised capital in a $1.5 million round led by CoinFund in September last year.

The latest raise comes with competition for supporting crypt