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Bitlayer - Extended Series A
Overview
Funding Date
October 8, 2024
Financing amount
$9M
Valuation
--
Catagory
Subcategory
About Bitlayer - Extended Series A
Bitlayer Labs, the developer of a Bitcoin Layer 2 network, has raised $9 million in a Series A extension funding round, just three months after its $11 million Series A. The new round was led by Polychain Capital and co-led by Franklin Templeton, with additional backing from SCB Limited, Selini Capital, G-20 Group and other investors
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2016 | 158 | info@polychain.capital | ||
| Fund | United States of America | 1947 | 28 | -- | ||
| Fund | United States of America | -- | 22 | -- | ||
| Fund | Switzerland | 2010 | 5 | -- |
Founders & Team
Charlie Hu
Kevin He
Company Profile / Project Introduction
Bitlayer is the first Bitcoin Layer 2 network based on BitVM, offering Bitcoin-equivalent security and Turing-completeness. Bitlayer is committed to becoming the computation layer for Bitcoin. It introduces ultra-scalability and inherits Bitcoin's L1 security, providing users with high throughput and a low-cost transaction experience.