Switzerland-based Velas, a startup building an open-sourced blockchain ecosystem of services and products, announced on Wednesday, September 28, that it has raised $135M (approximately €138M) through a major new partnership with Bahamas-based digital asset investment firm GEM Digital Limited.
The company intends to make its blockchain technologies accessible to people, businesses, and communities globally.
GEM is a digital asset investment firm that actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally. It is a $3.4B alternative investment group, managing a diverse set of investment vehicles focused on emerging markets and has completed over 530 deals to date.
Capital utilisation
Velas says it will use the funds to help consolidate its position as the global leader in new blockchain technologies. This will help the company realise its vision of enhancing people’s lives by facilitating access to advanced and disruptive technologies.
Farhad Shagulyamov, co-founder of the Velas Project, says, “This financing facility will boost our ability to introduce innovative technologies and solutions to the global marketplace, taking us into new markets and sectors. It will allow us to expand our ecosystem and improve the blockchain itself, expanding the number of users who can benefit from our cutting-edge approach.”
“At Velas, we are driven by a shared belief that opening up access to new technologies has the potential to benefit businesses, communities, and the planet. This significant investment will not just make a difference to our own business, but it will also benefit our customers worldwide,” adds Shagulyamov.
About VELAS
“Velas” is the trading name used for the Velas blockchain protocol, the ecosystem of related software products and legal entities engaged therein. Founded in 2019, the company says it is the fastest blockchain with Ethereum VM compatibility.
Velas is building an open-sourced blockchain ecosystem of services and products, aiming to combine the “best” qualities of both centralised and decentralised solutions. The company also claims to be one of the “most” efficient blockchain networks for secure, interoperable, extremely scalable transactions and smart contracts that is integrating “world-changing” technology products and services to improve people’s lives globally.
Velas provides up to 75,000 transactions per second with extremely low fees. The main goal of Velas is to bring blockchain technology to all types of users, from micro-startups to enterprise divisions, while undergoing active efforts of being certified as a Climate Neutral blockchain and aiming to be a fully distributed Space network by 2025.
01
How Gen Z affects B2B social media