Gelato has raised $11 million to expand its blockchain network and tools for Web3 and decentralized applications (DApps).
Kraken’s Ink joins Gelato’s Rollup platform to support decentralized finance (DeFi) without intermediaries.
Gelato takes a modular approach to improve blockchain scalability, ensuring security and interoperability for Web3 projects.


Yerevan (CoinChapter.com) - Gelato, a network focused on smart contract automation, has secured $11 million in Series A+ funding led by Hack VC. This brings the platform's total funding to $23 million, with investors including Animoca Brands, IOSG Ventures, and Bloccelerate VC. Gelato intends to use the funds to strengthen its blockchain network and expand tools for decentralized applications (DApps) and Web3 projects.
Gelato co-founder Hilmar Orth explained that the new funding will help Gelato develop its platform to support Web3 and Web2 applications, making on-chain solutions more accessible to companies.
Orth stressed the need for block space to be affordable.
Kraken’s Ink Joins Gelato’s Rollup Platform
As part of the funding announcement, Kraken's Ink, a Layer-2 blockchain solution, has added Gelato as a client. Ink was launched by Kraken on October 24 and is scheduled to be fully launched in early 2025. Ink aims to support decentralized finance (DeFi) activities such as trading and lending, and the cooperation with Gelato is in line with the efforts of both companies to promote on-chain functions without intermediaries.


source:
Kraken Exchange
Speaking about the collaboration, Orth said Kraken’s expertise complements Gelato’s goal of scaling on-chain computing. He said,
Kraken’s Ink adds significant value to Gelato’s network by providing advanced DeFi tools within the blockchain ecosystem.


Kraken releases Ink with support for Gelato Rollup. Source:
@hilmarxo
Solving Web3 scalability issues with modular blockchain solutions
The rise of decentralized applications has intensified the need for scalable blockchain solutions. Persistent issues such as high transaction fees and slow processing speeds have posed obstacles to many Web3 platforms. Orth stressed that it is crucial to adopt a modular approach to scaling applications and move away from putting all applications on one chain.
According to Orth,
This approach ensures that DApps achieve high performance while maintaining security and blockchain network interoperability. Therefore, by adopting this model, Gelato supports the development of Web3 applications on a larger scale.
Recent Funding Strengthens Gelato’s Blockchain Expansion Efforts
This latest financing comes after Gelato received $11 million in Series A funding on October 8, which was supported by Dragonfly Capital, ParaFi Capital and Aave founder Stani Kulechov. These funds support Gelato to add more blockchains to its network and expand its development team to drive innovation on multiple blockchain platforms.
Gelato's core service is Ethereum smart contract automation, which plays a key role in managing liquidity and volatility in the cryptocurrency market. Most importantly, by automating these tasks, Gelato's tools provide enterprises and DeFi projects with a reliable solution to efficiently scale blockchain usage.