#Bitcoin infrastructure raises $8.5 million#
Hot Topic Overview
Overview
Bitcoin infrastructure company Alpen Labs announced the closing of an $8.5 million strategic funding round led by DBA and Cyber Fund, with prior investors Ribbit Capital, Castle Island Ventures, and Geometry continuing to participate. The funding will be used to accelerate development of the company's Bitcoin ZK Rollup, "Strata," which is expected to launch on mainnet in 2025. Strata aims to expand and facilitate the use of Bitcoin, unlocking a number of practical functionalities for the cryptocurrency, including simple self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins. Alpen Labs previously closed a $10.6 million funding round in April 2024, led by Ribbit Capital.
Ace Hot Topic Analysis
Analysis
Bitcoin infrastructure company Alpen Labs recently announced the completion of an $8.5 million strategic funding round, led by DBA and Cyber Fund. Previous investors Ribbit Capital, Castle Island Ventures, and Geometry also participated in the round. The funds will be used to accelerate the development of Strata, its Bitcoin ZK Rollup project, which is slated for mainnet launch in 2025. Strata will be launched as an open platform, aiming to expand and promote the use of Bitcoin, unlocking further utility for the cryptocurrency, such as simple self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, and other on-chain applications. Strata will be open to the public next month with the upcoming launch of its testnet. Alpen Labs previously secured $10.6 million in funding in April 2024, led by Ribbit Capital. This demonstrates investors' confidence in Alpen Labs' Bitcoin ZK Rollup project, reflecting the market's emphasis on building Bitcoin infrastructure.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Alpen Labs is developing Strata, a Bitcoin ZK Rollup project, aimed at scaling and facilitating Bitcoin adoption.
Strata will launch as an open platform, unlocking numerous practical features for Bitcoin, such as simple self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, etc.
Alpen Labs has closed an $8.5 million strategic funding round led by DBA and Cyber Fund, with continued participation from seed round investors Ribbit Capital, Castle Island Ventures and Geometry.
The funding will help Alpen Labs accelerate the development of Strata, with plans to launch it on mainnet in 2025.