Blockchain venture company Aptos has raised $200 million to bring its valuation to over $1 billion in a funding round led by Andreessen Horowitz.
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Three Arrows Capital, Tiger Global, and Multicoin Capital also participated in the round. The venture units of FTX and Coinbase were the other investors.
The firm’s CEO, Mo Shaikh, remarks that the company had reached unicorn status despite not providing the exact valuation. The firm is at the pilot phase and expects to open access to the developers, with a launch scheduled for the third quarter of 2022.
Shaikh and his partner Avery Ching left Meta in December following the collapse of the stablecoin project Diem. The duo founded Aptos, a blockchain firm in Palo Alto, California.
Diem disposed of its intellectual property after the project collapsed on regulatory grounds and the exit of Meta’s crypto executive David Marcus.