Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has announced a $12-million debut funding round.
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 cross-chain capabilities beyond its current offering, in addition to hiring specialist developers to support the growth of Ethereum scaling.
The scaling solution seeks to facilitate interoperability between blockchains through its EVM connection and multichain bridge, granting developers the accessibility to launch DApps with multichain functionality. Aurora has also revealed it is in the development phase of building a price oracle, data indexer, an automated market maker exchange and block explorer, among other features.
The EVM is a blockchain-based computer engine at the core of Ethereum’s operating system, responsible for transaction execution, smart contract deployment and other operating functionalities, in addition to enabling developers to build DApps on its blockchain.