Palo Alto, California-based Aptos Labs, founded by ex-Meta employees, closed a $150 million Series A led by FTX Ventures and Jump Crypto—more than doubling its valuation.
The round comes just four months after the company closed a $200 million investment from Tiger Global, Coinbase Ventures and FTX Ventures, and valued the company at $1 billion.
The new funding is further evidence of investors’ insatiable appetite for all things Web3. Aptos is creating a Layer 1 system blockchain, meaning it will not sit on Ethereum or another network, but be its own decentralized network. The company is looking to build off of key elements of the Diem blockchain and its smart contract language—Meta’s Stablecoin project that was shuttered earlier this year.
Web3 and blockchain funding
According to Crunchbase data, VC-backed blockchain startups have raised nearly $11.5 billion thus far this year. That number puts it on a similar pace to last year, when more than $20.4 billion poured into the space.
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