Gelato raises $11 Million, brings total funding to $23M

Gelato, an Ethereum Rollup-as-a-Service (RaaS) platform, secured $11 million in its Series A+ funding round led by Hack VC. With this round, Gelato’s total funding reaches $23 million. This investment supports Gelato’s vision of scaling on-chain applications across interconnected chains.

Key Highlights of Gelato’s Recent Funding:

• Funding Round Details: Hack VC led the Series A+ round, with backing from Animoca Brands, IOSG Ventures, and Bloccelerate VC.
• Growth and Vision: Gelato plans to expand its platform, enabling startups and enterprises to build blockchain apps with ease.

Gelato co-founder Hilmar Orth emphasized their goal to bring every company on-chain. “Gelato is committed to a future where every company operates onchain. Achieving this vision requires scalable and affordable access to blockspace for millions of businesses,” he said. Over 50 projects already use Gelato’s technology, securing more than $600 million in total value locked (TVL).

Kraken’s upcoming blockchain platform, Ink, also plans to integrate Gelato’s technology. Set to launch in early 2025, Ink will enable Kraken’s users to trade, lend, and borrow without intermediaries. Gelato’s platform, similar to AWS in Web2, aims to streamline Web3 infrastructure, supporting enhanced scalability, security, and efficiency for blockchain applications.