Today, Berlin-based startup Gelato Network announced it has raised a $1.2 million seed round fund, led by IOSG Ventures and crypto commercial bank Galaxy Digital, MetaCartel Ventures and The LAO also participated in this investment.

Founded in 2019, the startup aims to create a tech stack for automated Ethereum services that allow developers to automatically execute contracts. The $1.2million funds will be used to develop its network infrastructure and establish a decentralized autonomous organization (DAO), which will one day take over governance.

By Mary Liu