Pontem, a Singapore-based product development studio building Move and EVM-compatible products to enable a safer, more performant and developer-friendly Web3, closed a $6M round of financing.
The round was 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.
The funds will be allocated to support the development of Move Virtual Machine (VM) products on EVM-compatible blockchains such as Ethereum including the new Move L2 Lumio.
Led by Alejo Pinto, co-founder, Pontem is a product development studio building Move and EVM-compatible products to enable a more developer and user-friendly Web3. Pontem’s Its Move VM platform empowers developers with the ability to build Move and EVM-based projects without reliance on Ethereum’s complex programming language Solidity. Pontem’s products include Pontem Wallet for the Aptos ecosystem, and Liquidswap AMM DEX, among others. Move, a programming language derived from Rust, enables developers to create secure and highly efficient smart contracts. The Move VM offers enhanced throughput via parallel processing. The raise will also be leveraged to support the launch of the new Move L2 Lumio, an Optimistic rollup on Ethereum that will leverage alternative L1s like Aptos to process transactions. Existing Pontem products deployed on Aptos, including the Pontem Wallet and Liquidswap DEX, have already garnered 40K weekly active users and up to $1M in daily volume, respectively.
FinSMEs
11/01/2024