Vela’s team | Image credit: Facebook (Velas)
Switzerland-based Velas, a startup building an open-source blockchain ecosystem of services and products, announced on Wednesday, September 28 that it has raised $135 million (approximately €138 million) through a major new partnership with the Bahamas-based investment firm for digital assets. GEM Digital Limited.
The company intends to make its blockchain technologies available to people, businesses and communities globally.
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GEM is a digital asset investment company actively raising, structuring and investing in utility tokens listed on over 30 CEXs and DEXs globally. It is a $3.4 billion alternative investment group, which manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 deals to date.
Capital utilization
Velas says it will use the funds to help consolidate its position as the global leader in emerging blockchain technologies. This will help the company realize its vision of improving people’s lives by facilitating access to advanced and disruptive technologies.
Farhad Shagulyamov, co-founder of the Velas project, says: “This financing facility will increase our ability to introduce innovative technologies and solutions to the global marketplace, and enter new markets and sectors. It will allow us to expand our ecosystem and improve the blockchain itself, and expand the number of users who can benefit from our pioneering 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 only make a difference to our own business, but it will also benefit our customers worldwide, adds Shagulyamov.
About VELAS
“Velas” is the trade name used for the Velas blockchain protocol, the ecosystem of related software products and legal entities engaged in it. Founded in 2019, the company says it is the fastest blockchain with Ethereum VM compatibility.
Velas is building an open source blockchain ecosystem of services and products, aiming to combine the “best” features of both centralized and decentralized solutions. The company also claims to be one of the “most” efficient blockchain networks for secure, interoperable, extremely scalable transactions and smart contracts that integrate “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 corporate departments, while undergoing active efforts to be certified as a climate-neutral blockchain and aiming to be a fully distributed space network by 2025.
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