Aurora raises $ 12 million in initial funding to scale the Ethereum ecosystem

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Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) based on the Near protocol, has announced an initial funding round of $ 12 million.

The round included over 100 venture capital investors, including Pantera Capital and Electric Capital.

According to an official statement, Aurora will use the funds to expand its cross-chain capabilities beyond its current offering and hire specialist developers to support the growth of Ethereum scale.

The scaling solution aims to facilitate interoperability between blockchains through their EVM connection and multichain bridge and to give developers access to start DApps with multichain functionality. Aurora also announced that it is in the development phase to build a pricing oracle, data indexer, automated market maker exchange, and block explorer, among other things.

The EVM is a blockchain-based computer engine at the core of the Ethereum operating system, responsible for transaction execution, provision of smart contracts and other operational functions, and enables developers to build DApps on their blockchain.

It was recently announced that the blockchain data explorer Etherscan has partnered with Aurora to integrate its Ethereum-exclusive service for participants of the Near protocol. Alex Shevchenko, CEO of Aurora, said:

“Our goal at Aurora was to create a future that seamlessly bridges the obvious gaps between blockchains, developers and users. The success of this funding strengthens Aurora’s appeal in our community and our goal of delivering scaling solutions across the crypto ecosystem. “

Related: Near Protocol, Algorand and PowerPool are all recovering while Bitcoin is consolidating

In July of this year, it was announced that Crypto.com had deployed its EVM test network for proof of authority, which enables developers and builders to cross-chain their projects created by Ethereum to other ecosystems compatible with the EVM.