This rollup project just raised 11 million USD from Animoca Brands!
Today (October 28), a rollup development platform named Gelato successfully raised 11 million USD in a Series A+ funding round led by Hack VC. This funding round also included several notable investment funds such as Animoca Brands, IOSG Ventures, Bloccelerate VC, and many others.
According to shares from Hilmar Orth (founder of Gelato), the Series A+ round is structured as a series of OTC (Over The Counter) transactions for investors, with an average valuation higher than the Series A round.
With the newly raised capital, Gelato plans to expand its team and services with the goal of becoming the leading platform for startups to launch their own blockchain.
The latest funding round also brought the total amount that Gelato has raised so far to 23.3 million USD. Previously, the project completed a Seed Round worth 1.2 million USD on September 15, 2020, and a Series A round worth 11 million USD on September 30, 2021.
In the Series A round, many prominent names participated, such as DragonFly Capital, ParaFi Capital, and Aave founder Stani Kulechov. Additionally, Gelato received some undisclosed investment from IOSG Ventures in January this year.
Another noteworthy news about Gelato is that Ink (Kraken's new Layer 2) will become a client of this rollup platform.
Previously, the Crypto Kraken exchange introduced Layer 2 Ink on October 24, expected to launch in early 2025. Ink will be developed based on Optimism's OP Stack toolkit, aimed at allowing users to trade, borrow, and lend without the need for intermediaries.
After Coinbase successfully launched Layer 2 Base, a series of other exchanges also launched their own Layer 2s such as Kraken (Ink), HashKey (HashKey Chain),…
In addition to Ink, Gelato is currently supporting over 50 other rollups, including Verify (Layer 2 of Fox News),… Gelato also supports over 500 DeFi applications, including Aave, Sky Protocol, Synthetix,…
