Aptos Labs
| Company type | Private |
|---|---|
| Industry | Blockchain, Cryptocurrency, Web3 |
| Founded | 2021 |
| Founder | Avery Ching, Mo Shaikh |
| Headquarters | Palo Alto, California, U.S. |
| Website | Official website |
Aptos Labs is a blockchain technology company headquartered in Palo Alto, California, known for developing the Aptos blockchain, a Layer-1 blockchain in the Web3 space. It was founded in 2021 by Mo Shaikh and Avery Ching, former employees of Facebook.
History
[edit]Aptos Labs was founded in 2021 following the dissolution of Meta's Diem project, an attempt by the social media company to develop a stablecoin and blockchain ecosystem.[1][2] Mo Shaikh and Avery Ching, who worked on Diem, leveraged their experience to create Aptos Labs.[3][4] The Aptos blockchain, which uses the Move programming language, was designed to address limitations in scalability and efficiency that exist in other blockchain technologies.[5][6]
Since its founding, Aptos Labs has secured funding from various investors.[5][7] The company raised approximately $400 million in multiple funding rounds, with backing from notable venture capital firms such as Andreessen Horowitz, Apollo Global Management, and Franklin Templeton.[4][8]
The company has partnered with Microsoft to explore the integration of blockchain technology with AI and data services.[9][10][11] In addition, Google Cloud has collaborated with Aptos Labs to provide infrastructure support and run a validator on the Aptos network.[12] The company has also worked with NBC Universal to create blockchain-based digital experiences.[13][14][15]
In February 2023, Aptos Labs made an equity investment in the short-video social media app Chingari.[16][17][18]
Aptos Labs is one of 11 firms selected to participate in the second phase of Hong Kong's e-HKD pilot program, an initiative led by the Hong Kong Monetary Authority (HKMA) to explore the feasibility of central bank digital currencies and tokenized deposits.[19][20] Aptos Labs along with Boston Consulting Group and Hang Seng Bank, will test the commercial value of settling a tokenized fund using digital money on a public blockchain.[21]
In October 2024, Aptos Labs has expanded into the Japanese blockchain market through the acquisition of HashPalette Inc., the developer of Palette Chain.[22][23] In November, Aptos Labs led a $10 million funding round for the decentralized gaming network KGeN, bringing the network's valuation to $500 million.[24][25]
References
[edit]- ^ Singh, Lucas Matney, Manish (2022-03-15). "Ex-Meta employees raise $200M from a16z, Tiger, Multicoin to realize Facebook's crypto dreams". TechCrunch. Retrieved 2024-11-25.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ^ Sraders, Anne. "Aptos Labs is aiming to give Meta's crypto project Diem a second life—if a crypto winter and a $1 billion lawsuit against the CEO don't get in the way". Fortune. Retrieved 2024-11-25.
- ^ "Aptos Labs and India's pioneering gaming force STAN launch esports platform enabling India's 500m gamers to engage with favorite players". India Today Gaming. Retrieved 2024-11-25.
- ^ a b Takahashi, Dean (2023-11-20). "Readygg partners with Aptos Labs to bring more players to Web3 games". VentureBeat. Retrieved 2024-11-25.
- ^ a b "Launched by Former Meta Employees, Aptos Labs Raises $150M for Diem Blockchain | Built In San Francisco". Built In. Retrieved 2024-11-25.
- ^ Weiss, Ben. "Microsoft partners with Aptos Labs to build A.I. tools that help banks explore blockchain integrations on Azure". Fortune Crypto. Retrieved 2024-11-25.
- ^ "Binance Labs Boosts Investment in Blockchain Startup Aptos". Bloomberg.com. 2022-09-15. Retrieved 2024-11-25.
- ^ "Ex-Meta Staffers Raise $150 Million for New Crypto Venture". Bloomberg.com. 2022-07-25. Retrieved 2024-11-25.
- ^ Melinek, Jacquelyn (2023-08-09). "Microsoft partners with Aptos blockchain to marry AI and web3". TechCrunch. Retrieved 2024-11-25.
- ^ "Aptos Labs collaborates with Microsoft, SK Telecom on institutional blockchain platform". SiliconANGLE. 2024-04-18. Retrieved 2024-11-25.
- ^ "Microsoft, Aptos Labs Partner to Unite Web3, AI: Details". Gadgets 360. 2023-08-10. Retrieved 2024-11-25.
- ^ Takahashi, Dean (2024-03-15). "Aptos Labs and Google Cloud team up to elevate Web3 experiences". VentureBeat. Retrieved 2024-11-25.
- ^ Weiss, Ben. "NBCUniversal and Aptos Labs team up on Web3 game for Nicolas Cage's 'Renfield'". Fortune Crypto. Retrieved 2024-11-25.
- ^ "NBCUniversal 将通过长期协议继续在 Aptos 上构建 - 深潮TechFlow". TechFlow. Retrieved 2024-11-25.
- ^ "Aptos Labs: Accelerating the Future of Web3". 5 Aug 2024.
- ^ "Aptos Labs makes equity investment in Chingari social media app". 9 Feb 2023.
- ^ "Aptos Labs makes equity investment in Chingari". The Week. Retrieved 2024-11-25.
- ^ "Aptos Labs makes equity investment in Chingari". The Times of India. 2023-02-09. ISSN 0971-8257. Retrieved 2024-11-25.
- ^ "Hong Kong to explore 11 use cases in phase 2 of e-HKD pilot". South China Morning Post. 2024-09-23. Retrieved 2024-11-25.
- ^ Authority, Hong Kong Monetary. "Hong Kong Monetary Authority - Central Bank Digital Currency (CBDC)". Hong Kong Monetary Authority. Retrieved 2024-11-25.
- ^ "Pilot e-HKD program entering 2nd phase". chinadailyhk. Retrieved 2024-11-25.
- ^ Mehta, Shiv. "Aptos Labs Expands in Japan & Hong Kong: Web3 Blockchain Moves". www.insightlabs.com.au. Retrieved 2024-11-25.
- ^ McCall, Isaiah (2024-10-07). "Franklin Templeton Expands into Aptos Crypto: How Will This Impact APT Price?". International Business Times. Retrieved 2024-11-25.
- ^ SN, Vikas (20 November 2024). "Decentralised gamer network KGeN bags $10 mn funding led by Aptos Labs; valuation jumps to $500 mn".
- ^ "Web3 gaming startup Kratos Gamer Network raises fresh funds; valuation jumps to $500 million". The Economic Times. 2024-11-21. ISSN 0013-0389. Retrieved 2024-11-25.