@BitlayerLabs
What is Bitlayer Labs?
• Bitlayer Labs is a company founded in October 2023, focusing on building Bitcoin Layer-2 solutions using the revolutionary BitVM model.
• The company is working on developing a platform that offers Bitcoin-equivalent security with support for Turing-complete programming, enabling developers to launch complex decentralized applications (DeFi) on the Bitcoin network.
• Its platform is compatible with environments such as EVM (Ethereum Virtual Machine) and SolanaVM, facilitating the seamless transition of projects and applications between them.
Funding and Institutional Support:
• Bitlayer Labs secured $5 million in funding during a Seed round led by institutions such as Framework Ventures and ABCDE Capital, along with participation from notable names like StarkWare, OKX Ventures, Alliance DAO, and others.
• It then completed a Series A round of $20 million led by Polychain and Franklin Templeton with participation from other prestigious institutions.
• It later announced an extension of the Series A round with an additional $9 million, bringing the total funding to approximately $25 million.
