Pontem, dApp framework for Facebook's Diem, raises $4.5M in seed round

Pontem, a decentralized application framework (dapp) for Facebook's Diem Blockchain project, has raised $4.5 million in a private seed funding round. Pontem enables crypto projects to integrate with Facebook's upcoming Diem blockchain to reach over 2.7 billion users by leveraging built-in network ecosystems such as Ethereum, Polkadot, and EOS. It attracted investment from leading venture capital funds in a round led by Mechanism Capital and Kenetic Capital. Notable investors for the startup included crypto unicorn Animoca Brands, which has worked with Delphi Ventures, Collider Ventures, Alameda Ventures, Skynet Trading, and key brands like Bayern Munich FC, Formula 1, and Power Rangers. In total, more than 30 investors pledged money to Pontem. “We are both humbled and honored to have such a respected list of investors for Pontem who support our vision and help us realize it,” said Boris Povod, Pontem Co-Founder. "This collection of selected investors will play an important role in Pontem's success and will be an integral part of it." Co-founder Stas Oskin added: “Pontem's vision is to enable developers to build for Diem while leveraging Polkadot's liquidity, data and user base. We have made great progress in this vision with our internal resources, but it is time to take a step forward and grow much faster. After the impressive success of the funding round, we are confident that our vision will be realized faster than anyone expected.” Jehan Chu, co-founder and managing partner of Kenetic Capital, said: “Pontem is a bold project as it not only provides a testbed for Diem, arguably the largest and most widely adopted blockchain project in the world, but also an active testbed. for new protocols and communities. We are extremely proud and excited to support the launch of Pontem and the way forward.” Pontem is also investing in talent to grow the project by bringing together experienced industry.

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