diff --git a/examples/Readme.md b/examples/Readme.md
index 150bab173..ad09a301c 100644
--- a/examples/Readme.md
+++ b/examples/Readme.md
@@ -19,6 +19,7 @@
 - [Custom output](./custom_output.php): a simple example that demonstrates the usage of custom output classes
 - [GD Image with logo](./imageWithLogo.php): a logo on top of the QR Code
 - [GD image with text](./imageWithText.php): description text under the QR Code ([#35](https://github.com/chillerlan/php-qrcode/issues/35))
+- [GD Image with rounded modules](./pngWithRoundedShapes.php): Similar to "melted" modules, but more rounded ([#127](https://github.com/chillerlan/php-qrcode/issues/127))
 - [ImageMagick with logo](./imagickWithLogo.php): a logo on top of the QR Code
 - [SVG with logo](./svgWithLogo.php): an SVG QR Code with embedded logo (that is also SVG)
 - [SVG with "melted" modules](./svgMeltedModules.php): an effect where the matrix appears to be like melted wax ([#127](https://github.com/chillerlan/php-qrcode/issues/127))
diff --git a/examples/pngWithRoundedShapes.php b/examples/pngWithRoundedShapes.php
new file mode 100644
index 000000000..9f1b3be01
--- /dev/null
+++ b/examples/pngWithRoundedShapes.php
@@ -0,0 +1,222 @@
+<?php
+
+/**
+ * php-gd realization of QR code with rounded modules
+ * 
+ * @see https://github.com/chillerlan/php-qrcode/pull/215
+ * @see https://github.com/chillerlan/php-qrcode/issues/127
+ *
+ * @created      17.09.2023
+ * @author       livingroot
+ * @copyright    2023 livingroot
+ * @license      MIT
+ */
+
+use chillerlan\QRCode\Common\EccLevel;
+use chillerlan\QRCode\Data\QRMatrix;
+use chillerlan\QRCode\Output\QRGdImage;
+use chillerlan\QRCode\Output\QROutputInterface;
+use chillerlan\QRCode\QRCode;
+use chillerlan\QRCode\QROptions;
+
+require_once __DIR__ . '/../vendor/autoload.php';
+
+// --------------------
+// Class definition
+// --------------------
+
+class QRGdRounded extends QRGdImage {
+
+    protected function module(int $x, int $y, int $M_TYPE): void {
+
+        $x1 = ($x * $this->scale);
+        $y1 = ($y * $this->scale);
+        $x2 = (($x + 1) * $this->scale);
+        $y2 = (($y + 1) * $this->scale);
+
+        $rectsize = ($this->scale / 2);
+
+        /**
+         * @var int $neighbours
+         * The right bit order (starting from 0):
+         *   0 1 2
+         *   7 # 3
+         *   6 5 4
+         */
+        $neighbours = $this->matrix->checkNeighbours($x, $y);
+
+        // ------------------
+        // Outer rounding
+        // ------------------
+
+        if ($neighbours & (1 << 7)) { // neighbour left
+            // top left
+            imagefilledrectangle(
+                $this->image,
+                $x1,
+                $y1,
+                ($x1 + $rectsize),
+                ($y1 + $rectsize),
+                $this->moduleValues[$M_TYPE]
+            );
+            // bottom left
+            imagefilledrectangle(
+                $this->image,
+                $x1,
+                ($y2 - $rectsize),
+                ($x1 + $rectsize),
+                $y2,
+                $this->moduleValues[$M_TYPE]
+            );
+        }
+
+        if ($neighbours & (1 << 3)) { // neighbour right
+            // top right
+            imagefilledrectangle(
+                $this->image,
+                ($x2 - $rectsize),
+                $y1,
+                $x2,
+                ($y1 + $rectsize),
+                $this->moduleValues[$M_TYPE]
+            );
+            // bottom right
+            imagefilledrectangle(
+                $this->image,
+                ($x2 - $rectsize),
+                ($y2 - $rectsize),
+                $x2,
+                $y2,
+                $this->moduleValues[$M_TYPE]
+            );
+        }
+
+        if ($neighbours & (1 << 1)) { // neighbour top
+            // top left
+            imagefilledrectangle(
+                $this->image,
+                $x1,
+                $y1,
+                ($x1 + $rectsize),
+                ($y1 + $rectsize),
+                $this->moduleValues[$M_TYPE]
+            );
+            // top right
+            imagefilledrectangle(
+                $this->image,
+                ($x2 - $rectsize),
+                $y1,
+                $x2,
+                ($y1 + $rectsize),
+                $this->moduleValues[$M_TYPE]
+            );
+        }
+
+        if ($neighbours & (1 << 5)) { // neighbour bottom
+            // bottom left
+            imagefilledrectangle(
+                $this->image,
+                $x1,
+                ($y2 - $rectsize),
+                ($x1 + $rectsize),
+                $y2,
+                $this->moduleValues[$M_TYPE]
+            );
+            // bottom right
+            imagefilledrectangle(
+                $this->image,
+                ($x2 - $rectsize),
+                ($y2 - $rectsize),
+                $x2,
+                $y2,
+                $this->moduleValues[$M_TYPE]
+            );
+        }
+
+        // ---------------------
+        // inner rounding
+        // ---------------------
+
+        if (!$this->matrix->check($x, $y)) {
+
+            if (($neighbours & 1) && ($neighbours & (1 << 7)) && ($neighbours & (1 << 1))) {
+                // top left
+                imagefilledrectangle(
+                    $this->image,
+                    $x1,
+                    $y1,
+                    ($x1 + $rectsize),
+                    ($y1 + $rectsize),
+                    $this->moduleValues[($M_TYPE | QRMatrix::IS_DARK)]
+                );
+            }
+
+            if (($neighbours & (1 << 1)) && ($neighbours & (1 << 2)) && ($neighbours & (1 << 3))) {
+                // top right
+                imagefilledrectangle(
+                    $this->image,
+                    ($x2 - $rectsize),
+                    $y1,
+                    $x2,
+                    ($y1 + $rectsize),
+                    $this->moduleValues[($M_TYPE | QRMatrix::IS_DARK)]
+                );
+            }
+
+            if (($neighbours & (1 << 7)) && ($neighbours & (1 << 6)) && ($neighbours & (1 << 5))) {
+                // bottom left
+                imagefilledrectangle(
+                    $this->image,
+                    $x1,
+                    ($y2 - $rectsize),
+                    ($x1 + $rectsize),
+                    $y2,
+                    $this->moduleValues[($M_TYPE | QRMatrix::IS_DARK)]
+                );
+            }
+
+            if (($neighbours & (1 << 3)) && ($neighbours & (1 << 4)) && ($neighbours & (1 << 5))) {
+                // bottom right
+                imagefilledrectangle(
+                    $this->image,
+                    ($x2 - $rectsize),
+                    ($y2 - $rectsize),
+                    $x2,
+                    $y2,
+                    $this->moduleValues[($M_TYPE | QRMatrix::IS_DARK)]
+                );
+            }
+        }
+
+        imagefilledellipse(
+            $this->image,
+            (int)(($x * $this->scale) + ($this->scale / 2)),
+            (int)(($y * $this->scale) + ($this->scale / 2)),
+            (int)($this->scale - 1),
+            (int)($this->scale - 1),
+            $this->moduleValues[$M_TYPE]
+        );
+    }
+}
+
+
+// --------------------
+// Example
+// --------------------
+
+$options = new QROptions([
+    'outputType'       => QROutputInterface::CUSTOM,
+    'outputInterface'  => QRGdRounded::class,
+    'eccLevel'         => EccLevel::M,
+    'imageTransparent' => false,
+    'imageBase64'      => false,
+    'scale'            => 30
+]);
+
+$qrcode = new QRCode($options);
+
+$img = $qrcode->render('https://www.youtube.com/watch?v=dQw4w9WgXcQ');
+
+header('Content-type: image/png');
+
+echo $img;