Velas is building an open-sourced blockchain ecosystem that aims to combine centralized and decentralized qualities across services and products. The protocol claims Ethereum VM compatibility and delivers up to 75,000 transactions per second with extremely low fees. Founded in 2019 and based in Switzerland, Velas positions itself as a secure, interoperable, and highly scalable network for transactions and smart contracts. The company is pursuing certification as a Climate Neutral blockchain and aims to become a fully distributed Space network by 2025. Velas announced a $135M (approx €138M) financing partnership with GEM Digital to expand its ecosystem and improve the blockchain. Management says the funds will be used to enter new markets and sectors, grow the user base, and consolidate its position in new blockchain technologies.

Total raised

$135M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2022