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Gear Technologies
WASM-based smart contract platform for dApp development
About Gear Technologies
Gear Technologies develops the Gear Protocol, a Substrate-based platform that enables developers to build and deploy decentralized applications (dApps) efficiently. The company was founded in 2021 by Nikolay Volf, a former senior engineer at Parity Technologies, which developed Polkadot.
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The core of Gear's offering is a smart contract engine that utilizes WebAssembly (WASM), allowing developers to write smart contracts in familiar languages like Rust, C, and C++. This approach lowers the entry barrier for Web2 developers transitioning to the Web3 space. The platform is designed to overcome the scalability issues of legacy blockchains by employing an Actor model for asynchronous messaging and parallel processing, which enhances speed and transactional throughput. Key features include persistent memory, which simplifies state management for developers, and gas reservation for automating future transactions.
Gear operates as a blockchain-as-a-service, providing the infrastructure and tools for dApp creation without requiring developers to build a new blockchain from scratch. The protocol can be deployed as a parachain on networks like Polkadot or as a standalone Layer-1 network, with Vara Network being the first L1 built on Gear. In December 2021, Gear Technologies raised $12 million in a private investment round led by Blockchange Ventures, with participation from Three Arrows Capital, Lemniscap, and executives from the Web3 Foundation and Parity Technologies.
At a glance
- Status
- Operational
- Founded
- 2021
- Headquarters
- Wilmington, United States
- Employees
- 28
- Open positions
- None listed
- Dealroom signal
- 46.3/100
- Industry
- Enterprise Software
- Sector
- Other B2B Software, Polkadot Ecosystem, Hard Tech, DT and LS
- Technology
- Blockchain, Deep Tech
- Business model
- SaaS
- Client focus
- b2b
Latest news
Press, funding announcements and product moves mentioning Gear Technologies.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VC✓Equity / VC | May 2023 | $12M | $48M | Elysium Venture Capital · Mechanism Capital · The LAO · DIventures | ↗ |
| SERIES AEquity / VC | Dec 2021 | $12M | $48M | Lemniscap · Three Arrows Capital · Blockchange Ventures · BitScale | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Gear Technologies is 620 monthly website visits, up 59% over the last three months. Gear Technologies's team declined 12.5% over the past year.
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series A13 investors entered at this stage
Blockchange Ventures
Lemniscap- TCThree Arrows Capital
BitScale
Mechanism Capital
Elysium Venture Capital
Distributed Global
P2P Validator
The LAO
DIventures
Signum Capital
The Spartan Group
HashKey Capital
Other known investors3 additional known investors
D1 Ventures
Principle Ventures
YBB Foundation
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Gear Technologies on X, ranked by likes and reposts, corporate channels excluded.
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Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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