Evmos Secures $27 Million in Funding
Evmos, the platform bridging the Cosmos blockchain with Ethereum, has successfully raised $27 million through a token sale.
According to CoinDesk, Tharsis Labs, the team behind Evmos on Cosmos, has completed a successful $27 million funding round. Notable participants in Evmos's token sale include Polychain Capital, Galaxy Digital, Huobi, HashKey Capital, Coinbase Ventures, Circle Ventures, among others.
Evmos is a blockchain project built on Cosmos, designed to be compatible with the Ethereum Virtual Machine (EVM) to connect Cosmos with Ethereum.
Initially, Evmos started as a toolset on Cosmos aimed at achieving Ethereum compatibility. However, Tharsis Labs recognized the significant demand for EVM integration among blockchains built on Cosmos and decided to rebrand and develop Evmos as a standalone blockchain to serve this purpose.
Evmos launched in March 2022 but faced several technical issues during its rollout. With this recent funding round, the project hopes to regain community trust and pursue its future goals.
Currently, a substantial number of projects are utilizing Evmos's solutions on Cosmos.
Overview of the Evmos Ecosystem
