Palo Alto, California-based , founded by ex- employees, closed a $150 million Series A led by and 鈥攎ore than doubling its valuation.
The round comes just four months after the company closed a $200 million investment from , and FTX Ventures, and valued the company at $1 billion.
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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鈥�.
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.
Other large Web3 raises this year include Switzerland-based blockchain startup closing a $450 million round in March at a valuation of over $7 billion鈥攎ore than doubling its valuation since its $200 million Series C raise last November.
In February India-based 鈥攁 scaling platform for the Ethereum blockchain鈥攃losed a $450 million round at a reported $13 billion valuation. That same month, San Francisco-based , which provides tools and hosting for those wanting to transact on blockchain and Web3,raised a $200 million 鈥淪eries C-1鈥� that valued the company at $10.2 billion.
The current round also included participation from new investors , , , , and others. Existing investors , , and also took part. The company says it has raised $350 million to date.
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