@BitlayerLabs infrastructure startup Bitlayer has raised $5 million through three oversubscribed token rounds, the team announced on Wednesday. According to a statement, r raised the capital from thousands of investors across crowdfunding platforms like CoinList and Echo.

The fresh capital will go towards expanding Bitlayer's operational expansion, team growth, and ecosystem development. According to co-founder Charlie Hu, the project has already released integrations with blockchains like Arbitrum, Base, Cardano, and Sui. The team hopes to release V2 of its mainnet later this year.

#Bitlaye has previously raised a $5 million seed round in March 2024 and a $20 million Series A led by Framework Ventures and ABCDE Capital. The latest round brings its total funding to $29.91 million across private and public rounds