FTX Ventures and Jump Crypto Back Aptos in $150 Million Round

Aptos, described as a “a scalable blockchain for billions of people,” closed a $150 million Series A funding round. It was led by FTX Ventures and Jump Crypto.

1/ Today, we announced our $150M Series A funding round. This is a testament to our team’s technical expertise, the strength & activity of our ecosystem and the vision & ethos we all share. https://t.co/GGnn4TY9Lw

— Aptos (@AptosLabs) July 25, 2022

Investments were also provided by Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt from Temasek, as well as Andreessen Horowitz and Multicoin.

Taking into account the seed round in March 2022, the startup raised $350 million.

“Due to outages and downtime, current blockchains are not suitable for mass adoption. […] Aptos could become a reliable foundation for Web3. It will allow users around the world to experience the benefits of decentralisation”, said Mo Shaikh, the project’s CEO.

The founders of Aptos previously worked on the Diem project (formerly Libra) from Facebook. In February 2022, the Diem Association announced the sale of the company’s intellectual property and other assets related to the management of the payment network to Silvergate Capital Corporation.

On March 15, the team announced the launch of a testnet for developers. On May 16 and June 30, the wider public gained access to two testnets (two more are announced for July and August). The mainnet launch is expected by the end of the year.

Earlier in December 2021, the blockchain startup Mysten Labs, from another group of Meta alumni, raised $36 million, including from Andreessen Horowitz.

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