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Evmos Developer Raises $27 Million In A Token Sale

Tharsis Labs, the creators of Evmos, a blockchain that enables cross-chain transactions between Ethereum and Cosmos, raised $27 million in a token sale managed by Polychain Capital.

The cash injection is a vote of confidence following a rocky mainnet debut in May that needs to be smoothed up.

Companies like Galaxy Digital, Huobi, and HashKey also took part.

According to Tharsis co-founder Federico Kunze Küllmer, the team wants to use the freshly obtained funds to accelerate the development of decentralized apps in the Evmos network ecosystem. He stated:

“As we look ahead, we’re excited to be empowering dApp builders with the best place to launch their products by enabling native interoperability, aligning developer incentives with the use of their dApps.”

Evmos began as the open-source Ethermint collection of tools for creating an EVM-compatible Cosmos blockchain. Because of the ease of transfer from Ethereum, it’s a popular environment among developers working on layer 1 blockchains.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.