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Aptos Labs successfully raised 150 million USD from many big names

Aptos Labs, the blockchain project that emerged from the collapse of Facebook’s Diem, announced the successful completion of a Series A funding round with a value of up to 150 million USD.

The funding round was co-led by venture capital funds like FTX Ventures and Jump Crypto, with additional participation from Andreessen Horowitz, Apollo, Franklin Templeton and Circle Ventures. According to Bloomberg, the funding round more than doubled the startup’s valuation, which was more than $1 billion in March.

Aptos was developed by former Meta employees Mo Shaikh and Avery Ching. The founders also played a role in promoting Mark Zuckerberg‘s failed Diem project. Previously, the Diem association and its subsidiaries announced the shutdown in February of this year, when Meta moved to sell the intellectual property and other assets of the project.

Notably, this is Aptos’ second hundred million dollar funding round in 2022, after the $200 million round in March. The raised money will be used to further develop the project and expand. Ecosystem. Aptos has so far not released information about the coins used on the network as well as the associated tokenomics.

Aptos co-founder and CEO Mo Shaikh commented on the latest funding round:

This is a signal that the funds support what we have done and show hope for the next generation layer-1 platform. We have seen the reality of many current blockchains that cannot support large-scale web3 adoption because of frequent failures and system-wide crashes.”

Even so, the Aptos ecosystem is still in its early stages of development and has not had many notable projects.

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