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A San Francisco-based web3 wallet platform Martian has raised $3 million in a pre-seed fundraising round, led by Race Capital, and included participation from FTX Ventures, Superscrypt, Jump Capital, and Aptos.

To attract the next billion crypto users, the company plans to utilize the fresh funds to quicken the hiring process and provide new wallet features.

Utkarsh Sinha and Siddharth Jain, childhood best friends and IIT Kharagpur and Columbia University computer science classmates, launched the company Martian.

At the first Aptos Hackathon, they began development on Martian, and it has since developed into the most well-liked wallet on Aptos and the Move ecosystem.

Because of their increased composability and welcoming developer experience, move-based blockchains like Aptos will alter web3 innovation, according to Utkarsh, co-founder of Martian. “We developed Martian to simplify the Aptos exploration process for users. With the help of this funding, we’ll keep growing our technical staff and fulfill our bold product roadmaps for customers.

With a focus on security and simplicity, Martian is a web3 wallet that enables users to engage with decentralized applications (dApps) to purchase, store, and exchange tokens and gather NFTs.

Additionally, Martian supports native Web3 alerts, which will significantly enhance the wallet user experience.

According to Sid, a co-founder of Martian, “Security of the cash of our users is our top priority.” “Using the critical pair rotation in the Aptos system design, our customers can quickly receive a new pair of keys to re-secure their wallets in the event of exposed private keys or key theft. Ottersec, a reputable blockchain audit company that has previously worked with Solana, LayerZero, and Serum, also audits our wallet and smart contracts.

According to data from the Chrome Webstore, since its inception in June, Martian has grown to be the most popular wallet on Aptos and the Move ecosystem, with nearly 1 million total installs and 600,000+ users on the Chrome extension.

Seven days after the October 18 launch of Aptos’ mainnet, Martian has 650K+ installs.

Within the first three days of the Aptos mainnet launch, more than 2 million transactions were successfully approved on the mainnet through Martian Wallet.

“When learning about a new crypto ecosystem, there are a lot of steps to take. The solution for Aptos and other Move-based chains is what Utkarsh and Sid are building with Martian,” according to Chris McCann, a general partner at Race Capital.

Chris added, “They serve as the primary gateway and offer the finest user experience to anyone wishing to store, purchase, sell their crypto assets, or gather various NFTs. One of the many reasons we believed this was a crucial investment is because everyone exploring the Move ecosystem will require Martian. Working with Utkarsh, Sid, and the Martian crew excites me.”

Ramnik Arora, a partner at FTX Ventures, stated, “Martian delivers an easy and safe onboarding experience to the Move ecosystem and is complementary to our investments in Aptos and Sui.” We are ecstatic to collaborate with Sid, Utkarsh, and the entire crew.

Image Credit: Martian


Data professional, Writer and Thinker at TECHnicalBeep, aspiring to provide quality content with respect to "All things Startups" to our readers. It is important for the people that they are aware of how the world is changing and evolving daily, and how those ideas and innovations can potentially help grow the Ideasphere of the region.

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