Crypto Startup Ava Labs Is in Talks to Raise at $5 Billion Value

Ava Labs Inc., the lead developer of the Avalanche blockchain, is in the process of raising a new round of funding, according to people familiar with the discussions. Its new valuation would make it one of world’s most highly valued crypto startups.

The company, founded and helmed by Cornell University professor Emin Gun Sirer, is raising $350 million at a $5.25 billion valuation, said one of the people, who spoke on condition of anonymity because the round hasn’t been made public.

Avalanche is attempting to compete with the likes of Ethereum and Solana by offering high speeds and ...