Gear Technologies builds a smart-contract execution layer to enable developers to build blockchain applications on Polkadot, whose base protocol does not natively support contracts. The team says its approach uses a highly parallelizable architecture for how different contracts interact. Founder Nikolay Volf previously worked as a core developer at Parity and collaborated with Polkadot founder Gavin Wood. The company raised $12 million in the announced funding round to advance its product and operations. Gear plans to launch a testnet in early 2022, undergo third-party security and financial audits, and target a go-live in the second half of 2022. The fundraise and roadmap are positioned to accelerate smart-contract development across the Polkadot ecosystem following the network’s first parachain launches.

Total raised

$12M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2021