Monday, October 13, 2024 – The Bitcoin layer 2 platform, Bitlayer, had secured $9 million in a Series A extension funding round.
Polychain Capital and Franklin Templeton led the funding round, with participation from SCB Limited, Selini Capital, G-20 Group, and other well-known investors.
Bitlayer’s total capital hit $25 million with the newest extension round, which began in August and closed in October, the announcement read. 1
Earlier in March, Bitlayer raised $5 million in its seed round.
Later in July, $11 million was raised in its series A round led by Framework Ventures, ABCDE, Franklin Templeton, StarkWare, OKX Ventures, Alliance DAO, and UTXO Management.
The newest funding of $9 million would be invested in V2 mainnet rollout, which is the first BTC L2 utilizing OpVM system.
Bitlayer would tap into a hybrid verification model of fraud proof and validity proof within its second mainnet version, advancing its key features to meet the latest blockchain innovations.
Bitlayer secured its spot in the Bitcoin sphere in relation to the total value locked, which now exceeds $500 million, a report said.
- blog.bitlayer.org: https://blog.bitlayer.org/Bitlayer_Secures_$9_Million_in_Extended_A_Round_Led_by_Polychain_Capital/ [↩]
