Bitlayer - Seed
Overview
Funding Date
March 27, 2024
Financing amount
$5M
Valuation
$80M
Category
Subcategory
About Bitlayer - Seed
Bitlayer Labs, the developer of Bitcoin Layer 2 protocol Bitlayer, announced the close of a $5 million seed funding round at an $80 million valuation. Blockchain-based venture firms Framework Ventures and ABCDE Capital led the round, with participation from StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital, Kenetic Capital, Kestrel, Global Coin Research, Pivot Global, Web3Port, Gate Labs, Mindfulness Capital, Quotient Ventures, Cogitent Ventures, NxGen Capital, Capital6 Eagle, PAKA, Comma3 Ventrues, Kronos Ventures, Pragma Ventures, Faculty Group, Rising Capital, Samara Group, DuckDAO, CSP DAO, and Dutch Crypto Investors.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Canada | 2019 | 103 | hello@framework.ventures | ||
| Fund | Singapore | 2022 | 37 | -- | ||
| Corporate | -- | 2017 | 31 | -- | ||
| Corporate | Hong Kong | 2017 | 151 | support@okex.com | ||
| DAO | Unknown | -- | 47 | -- | ||
| Fund | United States of America | 2019 | 32 | IR@utxo.management | ||
| Fund | Unknown | -- | 4 | -- | ||
| Fund | Hong Kong | 2016 | 69 | info@kenetic.capital | ||
| Fund | Unknown | -- | 11 | partners@kestrel0x1.com | ||
| DAO | -- | 2018 | 23 | -- |
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.