Spacemesh

Company Overview

Snapshot

Founded in May 2017 by Rami Kasterstein, Tomer Afek, and Aviv Eyal, Spacemesh operated with 11–50 employees. The company raised $18 million across two funding rounds from 18 investors, with Polychain leading one of the rounds. In April 2025, Spacemesh ceased operations.

Business overview

Spacemesh developed a blockchain operating system designed to run general-purpose smart contracts at web scale. The company utilized a novel consensus protocol that is secure, proof-of-work free, and incentive-compatible. Spacemesh aimed to create a highly decentralized peer-to-peer blockchain computer formed by individuals running the open-source software on their desktop PCs, serving the blockchain and cryptocurrency markets within the Business Software sector.

Strategic signal

In April 2025, Spacemesh ceased operations, indicating a significant downturn for the company. This event signals to investors and innovation teams the inherent risks and volatility within the blockchain and cryptocurrency sectors, particularly concerning the sustainability of projects reliant on token value and decentralized mining economics.

Company Intelligence Q&A

What is the current operational status of Spacemesh?

Spacemesh ceased to operate in April 2025.

When was Spacemesh founded and by whom?

Spacemesh was founded in May 2017 by Rami Kasterstein, Tomer Afek, and Aviv Eyal.

What was the total capital raised by Spacemesh?

Spacemesh raised a total of $18 million across two funding rounds.

Which investors participated in Spacemesh's September 2018 funding round?

In September 2018, Spacemesh secured funding from investors including Polychain and Bain Capital Ventures.

What was the strategic focus of Spacemesh's technology?

Spacemesh focused on developing a blockchain operating system for general-purpose smart contracts, utilizing a novel consensus protocol and aiming for a highly decentralized peer-to-peer network using desktop PCs.