Evmos Secures $27 Million in Funding

Evmos, the platform bridging the Cosmos blockchain with Ethereum, has successfully raised $27 million through its token sale.

According to CoinDesk, Tharsis Labs, the entity behind the Evmos project on Cosmos, has successfully completed a $27 million funding round. 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 that integrates Ethereum Virtual Machine (EVM) compatibility, allowing it to connect Cosmos with Ethereum.

Initially, Evmos started as a toolkit on Cosmos designed for Ethereum compatibility. However, Tharsis Labs recognized a significant demand among Cosmos-based blockchains for EVM integration, leading them to rebrand and create a dedicated blockchain for this purpose.

Launched in March 2022, Evmos faced several technical issues during its rollout. Nevertheless, with this new funding, the project aims to restore community trust and pursue future goals.

Currently, a substantial number of projects are utilizing Evmos's solutions on Cosmos.

Overview of the Evmos Ecosystem