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Velar builds a decentralized finance (DeFi) protocol on Bitcoin, functioning as a Layer-2 agnostic platform. It offers secure, scalable infrastructure for advanced DeFi applications. Leveraging Bitcoin's security with smart contract capabilities from Layer-2 solutions like Stacks, Velar supports core functionalities such as token swaps, yield farming, and a perpetual decentralized exchange. This technical approach aims to bring robust DeFi services directly to the Bitcoin ecosystem.
Mithil Thakore co-founded Velar, serving as CEO, with the company established in 2023. The foundational insight recognized Bitcoin's substantial yet untapped capacity for sophisticated financial operations beyond its role as a digital store of value. This spurred the development of robust infrastructure, directly integrating Bitcoin's inherent security into the burgeoning DeFi ecosystem and addressing a critical market gap.
The protocol serves users engaging in secure, decentralized financial activities directly on the Bitcoin network, including traders and liquidity providers. Velar's overarching vision is to foster an open and universally accessible financial system. It aims to achieve this by continually expanding Bitcoin's utility within the DeFi landscape, establishing a new and impactful paradigm for decentralized finance.
VELAR has raised $4.0M across 1 funding round.
VELAR has raised $4.0M in total across 1 funding round.
Velar Technologies is a proprietary algorithmic trading firm specializing in digital assets, providing market making, liquidity provision, proprietary trading, OTC execution, and venture investments.[1][3] Founded in late 2023 and based in Singapore, it leverages traditional market expertise to deliver 24/7 global liquidity, trading over 500 assets across 25+ venues with daily volumes exceeding $1 billion—capturing about 1% of global spot volume—while maintaining consistent positive returns through market-neutral strategies and stringent risk management.[1][3]
The firm serves cryptocurrency exchanges, digital asset markets, and emerging ventures by enhancing market efficiency, minimizing spreads, and offering strategic support in the volatile crypto landscape.[1] Its growth momentum is evident in rapid scaling since inception (originally active since 2018 under prior operations), with proprietary low-latency systems enabling on- and off-chain trading and a focus on regulatory prudence.[1]
Velar Technologies Pte. Ltd. was officially incorporated on December 13, 2023, in Singapore as a live company focused on software development for applications (SSIC 62011), operating from 160 Robinson Road.[3] The firm builds on "decades of experience in traditional markets," with roots tracing back to 2018 when it began fueling the digital economy through flexibility and innovation.[1]
Key details on founders or specific partners are not publicly detailed in available records, but the team's expertise spans traditional finance, enabling a pivot to digital assets via proprietary technology.[1][3] Early traction includes achieving $1 billion daily traded volumes, 1% global spot share, and integration with 25+ venues, marking pivotal milestones in liquidity provision and consistent yearly returns.[1]
Velar Technologies rides the digital asset and DeFi boom, capitalizing on surging crypto trading volumes and the need for reliable liquidity amid market volatility.[1] Timing aligns with post-2023 regulatory maturation and on-chain finance growth, where traditional finance expertise bridges to decentralized markets—providing efficiency that centralized exchanges struggle to match 24/7.[1][3]
Market forces like tokenized assets, perpetual derivatives expansion, and institutional crypto adoption favor Velar's model, as it neutralizes volatility risks while scaling via algorithmic precision.[1] The firm influences the ecosystem by investing in ventures, deepening liquidity (1% global spot share), and enabling smoother trading—fueling startup growth and broader digital economy infrastructure.[1]
Velar Technologies is poised to expand its 1% global liquidity footprint amid rising on-chain activity and regulatory clarity, potentially targeting more venues, AI-enhanced algos, and deeper venture plays in DeFi protocols.[1] Trends like real-world asset tokenization and 24/7 institutional trading will amplify demand for its market-neutral edge, evolving its role from liquidity provider to ecosystem architect.
As crypto matures into a trillion-dollar asset class, Velar's traditional-to-digital bridge positions it for outsized influence—scaling volumes beyond $1B daily while sustaining risk-adjusted returns that define its inception-era success.[1]
VELAR has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in January 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2024 | $4M Seed | — | Fmfw.io, Hive Ventures, Infinity Ventures Crypto, Pioneer Fund, Alexei Zamyatin, CEM Ozer, Bitcoin Startup LAB, Black Edge Capital, CMS Holdings, Cogitent Ventures, Cypher Capital, GBV Capital, Mapleblock Capital, Samara Asset Group, Trust Machines SPV | Announced |
VELAR has raised $4.0M in total across 1 funding round.
VELAR's investors include FMFW.io, HIVE Ventures, Infinity Ventures Crypto, Pioneer Fund, Alexei Zamyatin, Cem Ozer, Bitcoin Startup Lab, Black Edge Capital, CMS Holdings, Cogitent Ventures, Cypher Capital, GBV Capital.