#Bitcoin infrastructure secures $8.5 million in funding#
Hot Topic Overview
Overview
Bitcoin infrastructure developer Alpen Labs recently announced the completion of an $8.5 million strategic funding round, co-led by DBA and Cyber Fund. Previous investors Ribbit Capital, Castle Island Ventures, and Geometry continued to participate in the round. The funds will be used to accelerate the development of its Bitcoin ZK Rollup project, "Strata," which is planned to launch on mainnet in 2025. Strata aims to expand and facilitate the use of Bitcoin by unlocking more utility for it, including simple self-custody, privacy-preserving payments, interoperability, Bitcoin-backed lending, and stablecoins. Alpen Labs previously completed a $10.6 million funding round in April 2024. This recent funding further indicates investor confidence in the project and the Bitcoin Layer 2 space.
Ace Hot Topic Analysis
Analysis
Bitcoin infrastructure firm Alpen Labs has announced the completion of an $8.5 million strategic funding round, led by DBA and Cyber Fund, with previous investors Ribbit Capital, Castle Island Ventures, and Geometry continuing to participate. The funds will be used to accelerate the development of its Bitcoin ZK Rollup, "Strata," which is scheduled for mainnet launch in 2025. Strata aims to expand and facilitate the use of Bitcoin, unlocking numerous functionalities including simple self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins. Strata will be open to the public next month with the upcoming launch of its testnet. Alpen Labs previously closed a $10.6 million funding round in April 2024, led by Ribbit Capital. This demonstrates the market’s confidence in the development and application of Bitcoin infrastructure, and Alpen Labs’ fundraising will further drive the expansion and evolution of the Bitcoin ecosystem.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Alpen Labs is developing a Bitcoin ZK Rollup project called Strata, which aims to scale and enhance the use of Bitcoin.
Strata will unlock a number of practical functionalities for Bitcoin, including easy self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, and other on-chain applications.
Alpen Labs has raised $8.5 million in strategic funding led by DBA and Cyber Fund, with seed round lead investors Ribbit Capital, Castle Island Ventures, and Geometry continuing to participate.
Strata plans to launch its mainnet in 2025 and will be opening up to the public starting next month with the upcoming testnet release.