Modular network project Elixir has raised $8 million in a Series B funding round co-led by Sui blockchain developer Mysten Labs and Arthur Hayes’ family office, Maelstrom.

Hayes himself, Manifold, Amber Group, GSR and Flowdesk also participated in the round.

The fresh capital brings the project close to unicorn status at an $800 million valuation — an eight-fold increase on Elixir's valuation following its $7.5 million Series A round in October, led by Hack VC. In addition to its $2.1 million seed round in January 2022, Elixir has raised more than $17 million in funding.

“Maelstrom is excited to be a supporter of Elixir’s vision from its seed round over two years ago, all through their latest Series B,” Maelstrom Chief Investment Officer Arthur Hayes said in a statement shared with The …