Layer-1 blockchain developer Aptos Labs has closed a $150 million funding round to boost its ambitions in the Web3 space, highlighting venture capital appetite for blockchain-focused startups. cryptocurrencies.
The funding round was co-led by venture studios FTX Ventures and Jump Crypto, with additional participation from Andreessen Horowitz, Apollo, Franklin Templeton, and Circle Ventures. According to Bloomberg, the funding round has more than doubled the company’s valuation, which in March was over $1 billion.
Aptos was launched by former Meta employees Mo Shaikh and Avery Ching. The founders also had a role in advancing Mark Zuckerberg’s failed Project Diem. As Cointelegraph reported, the Diem Association and its subsidiaries shut down operations in February of this year, with Meta set to sell the project’s intellectual property and other assets.
At a glance the $14.67 billion invested in Q2 is no big change from the $14.66 invested in Q1 but in reality #Web3 and #Metaverse took investments over #DeFi.
visit #ResearchTerminal to get the full picture: https://t.co/JQpGeVmpRM@Cointelegraph pic.twitter.com/S41fhAG70y
— Cointelegraph Research (@CointelegraphCS) July 18, 2022
At a glance, the $14.67 billion invested in Q2 isn’t much of a change from the $14.66 invested in Q1, but in reality the investments in Web3 and Metaverse took over DeFi.
As reported by Bloomberg, the Aptos blockchain uses Diem’s programming language, called Move, which supposedly makes transactions cheaper and more efficient. Mysten Labs, another blockchain project raised from the ashes of Diem, also uses the Move programming language. Mysten Labs closed a USD 36 million funding round in December 2021.
Although the so-called crypto winter is upon us, venture capital continues to make strategic investments across the blockchain and cryptocurrency industries. According to Cointelegraph Research, venture firms invested $14.67 billion in the sector in the second quarter, basically matching first quarter commitments. Web3, a broad concept that describes the next iteration of the blockchain-powered Internet, was the most popular.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.