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Telos raises $8M funding before EVM launch to avoid token sales -Breaking

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The $8 million funding was led by John Lilic, a Polygon investor and ConsenSys for blockchain platform Telos. The funding was secured right before the launch of Telos’ Virtual Machine (EVM) platform, ending the company’s ongoing streak of bootstrapped initiatives.

Telos aims to redirect the recently secured capital on the platform’s development and marketing in addition to improving the liquidity of the ecosystem “without needing to resort to TLOS token sales in the event of a prolonged bear market over the next year.” According to Telos chief architect Douglas Horn: