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

Aurora, an Ethereum Virtual Machine, (EVM), designed to scale decentralized apps (DApps) built on the Near protocol has announced a $12 million debut funding round.

Over 100 venture capital investors participated in the round, including Pantera Capital as well as Electric Capital.

Officially, Aurora stated that it will use the funds to expand its cross-chain capabilities beyond what is currently available. It will also hire specialist developers to help support the growth and scaling of Ethereum.

Through its EVM connection, multichain bridge and scaling solution, developers will be able to launch DApps that support multichain functionality. Aurora also confirmed that it is currently in the development phase for building a price indexer, data indexer and block explorer.

The Ethereum-based EVM, a computer engine that runs on blockchain technology, is responsible for smart contract deployment, transaction execution and other operational functions. It also allows developers to create DApps on its blockchain.

Recently, it was announced that Etherscan, a blockchain data explorer, has partnered up with Aurora in order to integrate its Ethereum-exclusive service for participants of the Near protocol. Alex Shevchenko is the CEO of Aurora.

“Our goal at Aurora was to bridge the obvious gap between developers, users and blockchains. This funding has strengthened Aurora’s appeal to our community. It also supports our goal of scaling solutions throughout the crypto ecosystem.

Related: Near Protocol, Algorand, and PowerPool rebound as Bitcoin consolidates

Crypto.com announced in July that it had deployed its proof of authority EVM testnet. This allows developers and builders to cross-chain their Ethereum-built projects to other EVM-compatible ecosystems.

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