#Bitcoin infrastructure raises $8.5 million in funding#
Hot Topic Overview
Overview
Bitcoin infrastructure company Alpen Labs today 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 their participation. The funds will be used to accelerate the development of its Bitcoin ZK Rollup project "Strata," which is scheduled to launch on mainnet in 2025. Strata aims to expand and enhance Bitcoin usage by unlocking more practical functionalities, including simple self-custody, privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins. Alpen Labs previously raised $10.6 million in April 2024. This latest funding will further propel its exploration and development in the Bitcoin Layer2 space.
Ace Hot Topic Analysis
Analysis
Alpen Labs, a Bitcoin infrastructure company, announced today that it has closed an $8.5 million strategic funding round led by DBA and Cyber Fund, with participation from previous investors Ribbit Capital, Castle Island Ventures, and Geometry. The funding will be used to accelerate the development of Strata, the company's Bitcoin ZK Rollup, which is expected to launch on mainnet in 2025. Strata will be launched as an open platform, aiming to expand and accelerate the adoption of Bitcoin by unlocking more use cases for it, including easy 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 release of its testnet. This is the second major funding round for Alpen Labs in less than a year, after raising $10.6 million led by Ribbit Capital last April. The latest funding demonstrates the confidence investors have in Alpen Labs and its Bitcoin ZK Rollup project.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Alpen Labs is developing a Bitcoin ZK Rollup project called Strata, aiming to scale and promote Bitcoin adoption.
Strata will unlock numerous use cases for Bitcoin, such as easy self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, and more.
Alpen Labs has raised $8.5 million in strategic funding led by DBA and Cyber Fund, with continued participation from seed round investors Ribbit Capital, Castle Island Ventures, and Geometry.
Strata is planned to launch its mainnet in 2025 and will be open to the public from next month onwards with the upcoming testnet release.