A team of former Meta employees has raised $200 million to build a scalable blockchain for a billion people. Aptos’s funding round was led by Andreessen Horowitz.
1/ 🌊 As part of our mission of building a L1 for the next billion users, we are thrilled to announce two things:
a) Our new $200M funding round led by a16z…
b) Launch of our devnet! Special invite somewhere below 👇 https://t.co/ApU0j1lZCu— Mo Shaikh (@moshaikhs) March 15, 2022
Funding was also provided by Multicoin Capital, Coinbase Ventures, Katie Haun, Three Arrows Capital, ParaFi Capital, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, FTX Ventures and Paxos.
Aptos are built on open-source technology for the project Diem and the Move programming language at its core.
“The ideas formed during the development of Diem remain relevant and will form an important foundation for a secure, scalable and updatable Web 3.0. We are rapidly advancing decentralization and open access; the code is open.”, according to the project’s blog.
On March 15, the team announced the launch of a developer testnet. The testnet and mainnet launches are expected in the second and third quarters, respectively.
Aptos CEO Mo Shaikh told TechCrunch that, to build a web3 ecosystem for the mass market, the project intends to collaborate with some of the world’s largest brands and technology companies. His valuation exceeded $1 billion.
In December 2021, blockchain startup Mysten Labs, formed by a group of other former Meta employees raised $36 million from Andreessen Horowitz and other investors.
In February 2022 it emerged that the Diem Association announced the sale of Silvergate Capital Corporation’s intellectual property and other assets related to the operation of the Diem payment network. According to the press, the deal was worth around $200 million.
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