Bitlayer, a Layer 2 platform on Bitcoin, has raised $9 million in its prolonged Sequence A funding spherical, bringing the overall raised throughout the funding spherical to $25 million.
The Bitcoin (BTC) L2 community introduced that enterprise capital agency Polychain Capital led the prolonged spherical, with asset supervisor Franklin Templeton, which co-led the primary part, returning to co-lead.
Bitlayer Labs highlighted the funding spherical as a key step forward of the anticipated launch of Bitlayer V2. This model introduces a Bitcoin-native rollup leveraging OpVM, defending state transitions by means of validity proofs and fraud proofs.
Commenting on the expertise, co-founder Kevin He stated:
“It empowers Bitcoin to seamlessly combine into any programmable blockchain setting in a trustless method, which is able to catalyze speedy improvement and widespread adoption of a decentralized utility ecosystem based mostly on Bitcoin’s substantial liquidity.”
Advancing Bitcoin’s L2 ecosystem
The newest funding follows Bitlayer’s $5 million seed spherical closed in March 2024 and the $11 million Sequence A spherical in July. Since launching its mainnet V1 on April 15, Bitlayer has gained traction, and the most recent funding reinforces investor confidence within the platform.
Development metrics for Bitlayer embody the deployment of greater than 280 decentralized purposes throughout infrastructure, developer instruments, decentralized finance, wallets, non-fungible tokens, and gaming. Actual-world belongings and the metaverse are additionally seeing notable exercise on the community.
Key partnerships have emerged with platforms like Ankr, Polyhedra, Particle Community, and Babylon. Bitlayer Labs has additionally teamed up with blockchain safety auditor Hacken and cloud computing supplier AWS Cloud.
SCB Restricted, Selini Capital, and G-20 Group had been among the many backers within the prolonged spherical. The July fundraising acquired funding from Framework Ventures, Franklin Templeton, ABCDE, and OKX Ventures, amongst others.
