Pontem Raises $6M from Lightspeed Venture Partners, Faction, Pantera, Wintermute, Kraken Ventures & more to Build Move Virtual Machine Products on EVM Blockchains
Summary
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. 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. Unlike Ethereums native virtual machine that utilizes Solidity, the Move VM offers enhanced throughput via parallel processing. It is increasingly appealing to Web2 developers from traditional tech and finance sectors, who are accustomed to static-type languages like Rust for mission critical applications. Backed by Lightspeed, Pantera, and Delphi Digital, and other well-known VCs, Pontem is building foundational decentralized applications (dApps) and tooling to accelerate adoption and promote global financial inclusion powered by blockchains.