Ela Capital Takes A Position in Gather, Ahead of Series A Funding
Posted by admin on March 15, 2021
Ela Capital takes a position in Gather with a six figure convertible note along with tokens ahead of our scheduled and planned Series A funding round. Founded by Vijay Sappani in Toronto, Canada, Ela Capital is a venture capital firm, participating in private placements and providing advisory services to fellow founders and visionaries in the health & wellness, climate change & sustainability and DTC sectors generally.
With a business degree and twenty years in pharma, government, and CPG under his belt, Vijay Sappani is a diversified entrepreneur and an angel investor in several start-ups. Vijay is founder and significant shareholder of TerrAscend Corp (CNSX: TER), a multi-billion-dollar cannabis multi-state operator (MSO) in the United States. Vijay is also the Cofounder of Qunuba Sciences, High12 brands, Savikalpa Sciences, and Materia Ventures. Since 2018, Ela capital has diversified and invested in over 75 companies globally, including Momentus Space, Docsend, Carbonclick to name a few.
Apart from taking a sizable hybrid vested position, Ela Capital’s network and experience will offer growth opportunities for Gather to enter into new markets. Ela Capital has also expressed interest in joining The Gather Foundation.
On the investment, Vijay Sappani, Ela Capital Founder & CEO stated:
“As an entrepreneur and angel investor, part of my mission is to do philanthropic work to channel our energy for the healing of the planet we’re living in, through investing in fundamental issues such as girl’s education, rare diseases, and supporting democracy and freedom in the public policy space. Decentralization of the internet is also one of our major focuses when we’re investing, as we believe in a future where the decision-making process should be decentralized. Gather and what they promise is perfectly fitting into our mindset for the future and we’re very excited to be a part of this journey.”
Gather Founder & CEO Reggie Jerath added:
“Even though our core technology is crypto & blockchain centered, our main users are outside the echo chambers of crypto. Ela Capital’s very first crypto investment fortifies our goal of attracting non-crypto people to the industry, paving the way for mass adoption.”
About Ela Capital
Ela Capital is a seed stage operational focused impact investment family office providing investment and advisory services to visionary founders with disruptive ideas. We prioritize companies with ESG goals in the health & wellness, climate change & sustainability and DTC sectors generally.
Our team’s strength lies in cannabis, vegan & sustainability CPG, rare genetic disorders, life sciences and India focused ventures. We currently have investments and operational bandwidth in Canada, US, Europe, Asia, LATAM and Oceania and in over 75 companies.
Gather has developed a powerful new technology that allows web and mobile developers to earn money by contributing processing power , unlike any other digital monetization tool available today. Imagine an Internet where web and application developers can generate revenue without having to rely on intrusive Ads. A new revenue stream without ads, and one that is reliable and rewarding. The processing power gathered will then be redistributed, providing a cheaper alternative to current Cloud markets products. Gather is unlocking a new type of business model for the internet by allowing publishers to monetize without ads and by providing businesses & developers access to affordable and reliable processing power.
For more information, visit https://gather.network.