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Palo Alto, California-based has quadrupled its valuation since March, after 鈥攖he venture capital arm and accelerator of 鈥攎ade a new, undisclosed strategic investment in the Web3 infrastructure firm.

The follow-on investment was announced by Binance Labs in a . It did not disclose the amount of the follow-on investment, but a said the new money gives Aptos a valuation of more than $4 billion.

Binance Labs specifically noted Aptos鈥� use of the programming language Move to build its blockchain as part of the reason for the investing arm鈥檚 interest in the startup. Move is said to allow for faster transaction execution and a safer user experience.

鈥淲e believe that the technological competitiveness of the Aptos team could bring increased scalability to the blockchain infrastructure while also supporting novel use cases for Web3,鈥� said , co-founder of Binance and head of Binance Labs, in the blog.

Big money

Aptos, founded by ex- employees, is creating a Layer 1 system blockchain, meaning it will not sit on Ethereum or another network, but be its own decentralized network. The company is looking to build off of key elements of the Diem blockchain and its smart contract language, .

The new round is just the latest raise by the Layer 1 blockchain Web3 company. It was just in mid-March when Aptos closed a $200 million investment from , and FTX Ventures, and valued the company at more than $1 billion. Aptos then closed a $150 million Series A in July, also led by , along with . Binance Labs took part in the July round, which valued the company at more than $2 billion.听

Layer 1 blockchain startups continue to capture investors鈥� imagination鈥攁nd money.

It was just last week when Palo Alto, California-based closed a $300 million Series B at a more than $2 billion valuation. The new round was led by FTX Ventures.听

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