Web3 relay network Gelato Network completed Series A+ financing, led by IOSG Ventures

Ray Xiao, the Managing Director of IOSG Ventures, announced on X platform that they have recently completed the lead investment in Gelato Network's A+ round of financing, but did not disclose the specific amount of financing. According to RootData, Gelato Network is a Web3 automation and relay network that enables developers to automatically execute various arbitrary smart contracts on all EVM-compatible blockchains (such as Ethereum). Gelato Network previously completed a $11 million A round of financing on September 30, 2021, with a valuation of $125 million.

Comments

All Comments

Recommended for you

Ryan Sean Adams ·

Will this cycle skip Ethereum?

Ryan Sean Adams is going to take the perspective of long-term Ethereum bulls, not the obviously wrong dyed in the wool Ethereum is dead haters.
This year, there have been more than 90 Bitcoin ecosystem-related financings

There have been more than 90 financing transactions related to the Bitcoin ecosystem since 2024, setting a new record for the highest number of financing transactions in a single year in Bitcoin's history. Kyle Samani, Managing Partner at Multicoin Capital, pointed out that with the emergence of the Bitcoin Taproot upgrade and the Ordinals protocol, the Bitcoin ecosystem is experiencing a "developer renaissance". For some developers, building financial tools on Bitcoin is more attractive because it is the oldest and most secure blockchain. Multicoin Capital's investment trend is reportedly shifting from Solana to the Bitcoin ecosystem. The venture capital firm has invested in projects such as Solana Labs and StarkWare, but recently participated in the funding of the Bitcoin-native music platform Arch Network and the Bitcoin scaling network Mezo.
Cointime精选 ·

Genesis Global secures court approval for $3B payout

According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake.
Jesse Hamilton ·

Crypto Industry Rallies Behind House Bill as It Heads Toward Final Vote

The so-called FIT21 legislation to establish a U.S. regulatory regime for digital assets is set for a floor vote next week, and the sector is telling House leaders the effort is "crucial."
cointelegraph ·

If SEC approves spot Ether ETFs, many ‘will be caught severely offside’

Coinbase institutional research analyst David Han believes “there is room for surprise to the upside on this decision.”
cointelegraph ·

LayerZero identifies over 800K addresses in sybil self-reporting phase
Cointime精选 ·

‘We’re just scratching the surface’ of crypto and AI — Microsoft exec

The symbiotic relationship between AI and crypto is still in its nascent stages, according to tech execs.
Cointime精选 ·

Big miners pose a growing existential threat to Bitcoin

As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin's hash rate. That could become a problem for Bitcoin users in the near future.
Cointime精选 ·

Bybit’s Notcoin listing debacle, China firm’s profits up 12-fold after crypto buy: Asia Express

Bybit CEO apologises for Notcoin listing woes, Hong Kong crypto ETFs dissapoint, China firm's profits surge 1100% after crypto buy
Cointime精选 ·

Is onboarding too hard? Crypto adoption still faces major obstacles

Progress has been made in streamlining the Web3 onboarding process, but the flood of mainstream users has not yet arrived.