A Strong Start for a Bold Vision:
In March 2024, Bitlayer Labs announced that it had successfully raised $5 million in its seed funding round. The company’s valuation at this stage reached $80 million, reflecting strong confidence from the investment community in the team’s mission to redefine Bitcoin’s capabilities.
Backed by Industry Leaders:
This funding round was led by Framework Ventures and ABCDE Capital, with additional support from respected players such as StarkWare, OKX Ventures, and Alliance DAO. The involvement of these strategic investors sends a strong signal that Bitlayer’s approach to building a Layer 2 network for Bitcoin has captured the attention of some of the industry’s sharpest minds.
Building the Bitcoin of the Future:
With this capital, Bitlayer Labs is working to create a scalable and developer-friendly platform for Bitcoin-based applications. By using the BitVM model along with Zero Knowledge Proofs and Fraud Proofs, the team aims to allow developers to build secure, fast, and complex decentralized applications directly on Bitcoin’s network.
What This Means for Developers:
The successful funding round is more than just financial news—it is a green light for developers to begin building on an infrastructure designed to combine the stability of Bitcoin with the flexibility of smart contract technology. Bitlayer Labs is setting the stage for an entirely new wave of innovation in the Bitcoin ecosystem.