Web3 product development studio Pontem has raised a $6 million financing round, co-led by Faction and Lightspeed Venture Partners. 

Participants in the round also include Pantera Capital, Aptos Foundation, Wintermute, Altonomy, Shima Capital and Kraken Ventures, among others.

Pontem plans on deploying the funds to enable developers to build apps that are both Ethereum Virtual Machine and Move-compatible — expanding the usage of the Move programming language beyond the Aptos and Sui blockchains.

"We aim to deploy this influx of capital to increase usage of Move beyond Aptos and Sui, empowering dapp teams with a programming language that enables devs to add new features that support the security and scalability needed for mass adoption," Pontem co-founder Alejo Pint said in a …