TechFlow News, October 28 — According to The Block, Gelato, a network focused on smart contract automation, has raised $11 million in its Series A+ funding round. The round was led by Hack VC, with participation from Animoca Brands, IOSG Ventures, and Bloccelerate VC.
The additional capital will enable Gelato to expand its platform, allowing startups and enterprises to launch their own blockchain-based applications. With this new funding, Gelato's total raised capital reaches $23 million.
Hilmar Orth, co-founder of Gelato, said the funds will help the network improve user experience and support both Web3 and Web2 companies in building scalable on-chain applications.
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