Aptos Labs raises $150M, more than doubling valuation

Aptos Labs raises $150M, more than doubling valuation


Layer-1 blockchain developer Aptos Labs has closed a $150 million funding round to further its ambitions in the Web3 space, further highlighting venture capital’s appetite for budding crypto-focused startups. 

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 more than doubled the startup’s valuation, which was over $1 billion as of March.

Aptos was launched by former Meta employees Mo Shaikh and Avery Ching. The founders also had a role in advancing Mark Zuckerberg’s failed Diem project. As Cointelegraph reported, the Diem Association and its subsidiaries wound down operations in February of this year, with Meta moving to sell the project’s intellectual property and other

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