Former Meta Employees’ Project, Aptos Labs, Raised $150M Investment
The layer-1 blockchain project founded by Mo Shaikh and Avery Ching raised $150 million in funding. The funding was led by FTX Ventures and Jump Crypto, followed by other names such as Andreessen Horowitz, Apollo, Franklin Templeton, and Circle Ventures.
According to Bloomberg, these funding have doubled Aptos Labs’ valuation, with its previous valuation of more than $1 billion in March.
The founders of Aptos, Mo Shaikh and Avery Ching, were former employees at Meta who previously also had a role in developing Mark Zuckerberg’s Diem project, before it was declared a failure and Meta closed the operation in February and sold it.
Based on Bloomberg, the Aptos blockchain will use the programming language previously used on Diem, called Move. This will reportedly make transactions on the blockchain faster and more efficient.
-mads
