Founded by former employees of Meta stablecoin arm Diem, blockchain company Aptos Labs announced a US$150 million Series A funding round led by FTX Ventures and Jump Crypto on Monday, according to a press release.

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Fast facts

• Venture capital and crypto firms such as Andreessen Horowitz, Multicoin Capital, and Circle Ventures joined in, Aptos said.

• Aptos said the latest fundraise would support the company’s growth in gaming, social networks, media and entertainment, and finance.

• The funding round more than doubled the startup’s previous valuation, which was over US$1 billion in March, according to Bloomberg.

• Aptos Labs has raised at least US$350 million this year; its March seed round closed at US$200 million, led by Andreessen Horowitz.

• After Meta’s stablecoin arm Diem officially shut down amid intense regulatory scrutiny in January, Aptos Labs announced plans to bring the Diem blockchain back to life, aiming to be “the most secure, production-ready blockchain.”

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