Pontem, a development studio building foundational tools for Aptos and the Move ecosystem Raises $6M Funding co-led by Lightspeed Faction and Lightspeed Venture Partners with participation from Pantera Capital, Aptos Foundation, Wintermute, Altonomy, Shima Capital, Kraken Ventures, and other investors.
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The funding will be used to enable the creation of Move Virtual Machine (VM) products, such as the brand-new Move L2 Lumio, on blockchains that are compatible with Ethereum.
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“We are grateful for the investment and support from our partners. Altogether, these VCs represent valuable resources in both traditional and crypto ventures. We are eager to build foundational products with Move and grow our community alongside them,” said Alejo Pinto, co-founder, Pontem. “We aim to deploy this influx of capital to increase usage of Move beyond Aptos and Sui, empowering dapp teams with a programming language that enables devs to add new features that support the security and scalability needed for mass adoption. Vendor lock into the EVM is only a temporary problem. We aim to solve this problem on Ethereum to enable Web2 devs to more easily and confidently enter the space.”
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“Pontem is building critical primitives for the Move ecosystems. We are excited to support the project as they work to enable mass adoption on next generation blockchains,” said Banafsheh Fathieh, Co-founding Partner, Faction.
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“Pantera is excited to be investing into Pontem and help fuel the Move and Aptos ecosystem. We believe the team has been doing a tremendous job of building the necessary financial and technical infrastructure to bring consumers and developers to the decentralized web,” said Paul Veradittakit, Managing Partner at Pantera Capital.
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About Pontem
Founded in 2021, Pontem is a product studio working toward global financial inclusion powered by blockchains. Pontem is partnered with Aptos to build foundational dApps and other infrastructure which enable adoption of their L1, such as development tooling, EVMs, AMMs, and more.
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