# Ethlas

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ethlas

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.ethlas.com
- Total disclosed funding: $8.7M
- Latest round: Seed (Mar 31, 2022)
- Investors on record: 12

## About

Based in Metaverse, Singapore, and founded in 2022 by co-founders Elston Sam and Gennady Medvinsky, Eleos Pte. Ltd., trading as Ethlas, operates as a free-to-play and play-to-earn GameFi Metaverse platform that allows users to play games and earn crypto rewards. In February 2022, Eleos Pte. Ltd. raised USD 2.7 million in seed funding from Blockchain Space, Deus Ex Technology Ltd, GBIC, The Genesis Fund, Venturra Capital, and Yield Guild Games South East Asia. As of March 2022, the company has a team of 22 employees. It has attracted more than 100,000 players and crossed the 3 million gameplay mark. 

Eleos Pte. Ltd. uses gameplay mechanics such as 2048, Candy Crush, Bubble Popper, and Think Tetris, built on the Polygon chain, the protocol for enabling interoperability and scalability within the Ethereum blockchain ecosystem. The games can be played on a PC or a mobile phone browser. The company has also minted non-fungible tokens, Komos, modelled after Komodo dragons, for players to unlock new features and treasures in the game. 

Eleos Pte. Ltd. will use the seed funding to expand its team and plans to launch its games on game studios' platforms through a revenue-sharing model.

## Funding rounds

- Seed, Mar 31, 2022, $6M — Makers Fund, Dragonfly Digital Management, Yield Guild Games South East Asia
- Seed, Feb 15, 2022, $2.7M — Hong Shan, Global Founders Capital, Venturra Capital, Deus Ex Technology Ltd, Hustle Fund, GBIC, Yield Guild Games South East Asia, Play It Forward Private Limited, Blockchain Space, The Genesis Fund

## Investors

- Hong Shan — Seed
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed
- Venturra Capital (https://capitalatlas.ai/funds/venturra-capital) — Seed
- Deus Ex Technology Ltd — Seed
- Hustle Fund (https://capitalatlas.ai/funds/hustle-fund) — Seed
- GBIC — Seed
- Yield Guild Games South East Asia — Seed
- Play It Forward Private Limited — Seed
- Blockchain Space — Seed
- The Genesis Fund — Seed
- Makers Fund (https://capitalatlas.ai/funds/makers-fund) — Seed
- Dragonfly Digital Management (https://capitalatlas.ai/funds/dragonfly-digital-management) — Seed