Home News Aurora raises $12M in debut funding to scale Ethereum ecosystem

Aurora raises $12M in debut funding to scale Ethereum ecosystem

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Aurora, an Ethereum Virtual Machine (EVM) developed to grow decentralised apps (DApps) based on the Near protocol, has raised $12 million in its first round of investment.

Moreover, Pantera Capital and Electric Capital were among the approximately 100 venture capitalists who took part in the round.

Aurora will utilise the funding to extend cross-chain capabilities beyond what it now offers. As well as hire expert engineers to support Ethereum scaling development, according to an official release.

Through its EVM connection and multichain bridge, the scaling solution aims to promote interoperability across blockchains. Allowing developers to create DApps with multichain capabilities. Aurora has also stated that, among other things, it is developing a pricing oracle, data indexer. As well as automated market maker exchange, and block explorer.

The Ethereum Virtual Machine (EVM) is a blockchain-based computer engine at the heart of Ethereum’s operating system. It is responsible for transaction execution, smart contract deployment, and other running functions. As well as allowing developers to create DApps on the Ethereum blockchain.

Aurora collaborates with Etherscan

Etherscan, a blockchain data explorer, has announced a collaboration with Aurora to provide its Ethereum-only service to Near protocol members. Alex Shevchenko, CEO of Aurora, stated:

“At Aurora, our objective has always been to build a future in which the evident gaps between blockchains, developers, and consumers are easily bridged.” The success of this round of investment confirms Aurora’s popularity within our community and our goal of bringing scaling solutions to the crypto industry as a whole.”

Crypto.com announced the launch of its proof-of-authority EVM testnet in July of this year, allowing developers and builders to move their Ethereum-based projects to other EVM-compatible ecosystems.

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