Tuesday, October 4, 2022
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Aptos raises USD 200 million in a funding round

Aptos, a startup founded by ex-Facebook engineers, announced a $200 million investment round on Tuesday. Andreessen Horowitz (a16z) led the investment, with Multicoin Capital, 3 Arrows Capital, Tiger Global, FTX Ventures, Coinbase Ventures, and others also contributing.

Aptos is one of the few groups attempting to bring the Diem (previously Libra) blockchain to life outside of Meta’s control (formerly Facebook). Another project, 0L, is attempting to resurrect Diem, in part through its Carpe app. On Tuesday, Aptos published a second blog post outlining some of their blockchain’s technical specifications.

Aptos’ devnet, which allows coders to contribute open-source code, is now live, with developers from major crypto firms volunteering their time. In a blog post, Aptos listed “next-generation social media platforms, rich [non-fungible token] experiences, Web 3 games, creator-first media and entertainment enterprises, inexpensive and secure payments, [decentralised finance]-integrated fintech solutions, and so much more” as Aptos applications.

“Great firms in our community, such as Anchorage, Binance, Blockorus, Coinbase [COIN], Livepeer, Moonclave, Paxos, Paymagic, Rarible, and Streaming Fast, are already giving feedback and contributing code on Devnet,” Aptos noted.

Do you think this funding will boost Aptos growth? Comment below.

Read more: TravelX raises $10 million in a seed funding round led by Borderless Capital

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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