When was Velar founded?

Velar was founded in 2023 and raised its 1st funding round 1 year after it was founded.

Where is Velar located?

Velar is headquartered in Dubai, United Arab Emirates.

Who is the current CEO of Velar?

Mithil Thakore of Velar. They have also founded 2 companies and are an angel investors in 1 startup.

How many employees does Velar have?

As of May 31, 2026, the latest employee count at Velar is 25.

Is Velar a funded company?

Velar is a funded company, having raised a total of $3.5M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Feb 01, 2024.

When was the latest funding round of Velar?

Velar's latest funding was a $***** ICO round on Apr 03, 2024, with participation from 0 investor.

Where does Velar rank among its competitors?

Velar ranks 28th amongst 142 active competitors, of which 40 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Fasset, which secured $51M in May, 2026.

Who are the top competitors of Velar?

Velar's top competitors include Brahma, Fasset and Blueprint Finance. Among them, Fasset secured the most recent funding round in May, 2026.

Velar - 2026 Company Profile, Team, Funding & Competitors

Velar is a seed company based in Dubai (United Arab Emirates), founded in 2023 by Mithil Thakore and Tejinder Singh Mor. It operates as a Provider of DeFi liquidity protocol on bitcoin. Velar has raised $3.5M in funding. The company has 142 active competitors, including 40 funded and 6 that have exited. Its top competitors include companies like Brahma, Fasset and Blueprint Finance.

Company Details

Provider of DeFi liquidity protocol on bitcoin. It provides solutions for decentralized trading, perpetual swaps, and token launches on the Bitcoin network. Its platform offers swaps, liquidity provision, and reward earning opportunities for traders.

Website: velar.com
Social
Email ID: *****@velar.com, *****@velar.com

Key Metrics

Founded Year

2023

Location

Dubai, United Arab Emirates

Stage

Seed

Total Funding

$3.5M in 2 rounds

Latest Funding Round

ICO, Apr 03, 2024, $*****

Investors

Transform Capital & 12 more

Ranked

28^th among 142 active competitors

Employee Count

25 as on May 31, 2026

Similar Companies

Brahma & 151 more

View Velar's full profile

Velar has raised a total funding of $3.5M over 2 rounds. Its first funding round was on Feb 01, 2024. Velar has 13 institutional investors.

Here is the list of recent funding rounds of Velar:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Apr 03, 2024	9098774	ICO	3411297	1653994	7192542	5969293
Feb 01, 2024	5350447	Seed	2411085	2557080	1050534	Bitcoin Startup Lab & 8 more

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View details of Velar's funding rounds and investors

The founders of Velar are Mithil Thakore and Tejinder Singh Mor. Mithil Thakore is the CEO of Velar.

Here are the details of Velar's key team members:

Mithil Thakore: Co-Founder and CEO of Velar and founder of 2 other companies, Velar and TeraSurge. They are also an angel investor in 1 startup.
Contact Info: 1 email address
Tejinder Singh Mor: Co-Founder and CPO of Velar and founder of 1 other company.

View details of Velar's Founder profiles and Board Members

Velar's employee count trend

Velar has 25 employees as of May 26. Here is Velar's employee count trend over the years:

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Top competitors of Velar include Brahma, Fasset and Blueprint Finance. Here is the list of Top 10 competitors of Velar, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Brahma 2021, Delhi (India), Acquired	Blockchain-based network for Defi applications in the finance industry	$6.71M	Framework Ventures, Greenfield Capital & 13 others	70/100
2nd	Fasset 2019, Dubai (United Arab Emirates), Series B	Blockchain-based platform to buy and sell crypto assets and tokens	$73M	Liberty City Ventures, Fatima Gobi Ventures ... & 8 others	62/100
3rd	Blueprint Finance 2022, San Francisco (United States), Series A	Provider of financial services and wealth management solutions	$17M	Polychain, Tribe Capital & 8 others	60/100
4th	Margarita Finance 2024, Zurich (Switzerland), Seed	Provider of decentralized finance platform	$1M	Outrun Ventures, Tomahawk VC & 2 others	53/100
5th	Falcon 2024, Wilmington (United States), Series A	Developer of a protocol for minting and staking synthetic dollars	$10M	Worldlibertyfinancial, M2 Bespoke & 1 others	53/100
6th	Impossible Finance 2021, Singapore (Singapore), Series A	DeFi platform for providing decentralized financial products	$7M	Ternary, True Ventures & 32 others	52/100
7th	Coin98 2017, Ho Chi Minh City (Vietnam), Seed	Diversified solution for cryptocurrency	-	Bee Blockchain Venture Capital Fund, YZi Labs ... & 1 others	52/100
8th	Aligned 2021, Puerto Rico (Argentina), Series C	Blockchain-based infrastructure for the DeFi industry	$34M	GSR Ventures, Altium Capital Management & 4 others	51/100
9th	Accountable 2024, Road Town (British Virgin Islands), Seed	Provider of decentrailzed lending and borrowing	$10M	Pantera Capital, Zee Prime Capital & 6 others	48/100
10th	DeFi 2020, Dubai (United Arab Emirates), Funding Raised	Digital asset investment management platform	-	BlocTech Investment Group, Contango & 13 others	47/100
28th	Velar 2023, Dubai (United Arab Emirates), Seed	Provider of DeFi liquidity protocol on bitcoin	$3.5M	Transform Capital, CMS Holdings & 11 others	37/100