Our Investment in Martian: MoveVM Based Web3 Wallet
We are excited to announce that Race Capital has led the $3M pre-seed investment into Martian, the most used MoveVM-based Web3 wallet on Aptos and other Move chains, partnering with Utkarsh Sinha, Siddharth Jain, and the Martian team.
Martian is the most popular wallet on Aptos and the Move ecosystem with over 900K installs to date. Martian is designed with a focus on simplicity and security, allowing users to interact with decentralized applications (dApps) to buy, store, swap tokens, and collect NFTs. Martian also supports web3 native notifications which will significantly improve overall wallet user experience.
We believe in Utkarsh and Sid and the role of a key wallet to interact with all MoveVM chains in onboarding the next Billion users.
Amazing traction and growth
Since Martian was first launched in June, they have accumulated over 900K+ total installs and 600K+ users on the Chrome extension according to Chrome Webstore data. Martian had 650K+ total installs in 7 days post Aptos mainnet launch on October 18th. Furthermore, over 3.5M+ mainnet transactions have already been successfully approved through Martian Wallet. Their total number of users, installs and transactions are rapidly growing as we speak.
Strong Team from IIT Kharagpur and Columbia University
We at Race Capital always look for strong technical founders with the ability to ship quickly, and the Martian team is a perfect example of this.
Utkarsh and Sid are childhood best friends and studied together at IIT Kharagpur and Columbia University, majoring in Computer Science.
They took part in the first ever Aptos Hackathon back in May and within a very short amount of time, they became one of the main teams building on the new exciting L1 and key contributors to the broader Aptos ecosystem. From inception of the idea, new feature updates, to the migration to Mainnet, the Martian team has consistently been the first mover.
Focus on Security
Although Utkarsh and Sid focus on product and speed, their main priority is the security of their user’s assets. This is one area they have never sacrificed any effort on. Their wallet and smart contracts have both been audited by Ottersec, a leading blockchain audit firm that has previously worked with Solana, LayerZero and Serum. They have also built additional features that will allow their users to safely and easily obtain a new pair of keys to re-secure their wallets in the event that their private keys are exposed.
We look forward to working closely with Utkarsh & Sid, and helping the team to onboard the next Billion users onto MoveVM chains.
For more information, please visit: https://martianwallet.xyz and follow Martian on Twitter.
