#Bitcoin infrastructure firm Alpen Labs raises $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 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 Alpen Labs' Bitcoin ZK Rollup project, "Strata," which is planned to launch on mainnet in 2025. Strata aims to expand and facilitate Bitcoin usage, unlocking more utility for it, including simple self-custody, privacy-preserving payments, interoperability, Bitcoin-backed lending, and stablecoins. Alpen Labs previously secured $10.6 million in funding in April 2024, led by Ribbit Capital.
Ace Hot Topic Analysis
Analysis
Alpen Labs, a Bitcoin infrastructure company, announced today it has closed an $8.5 million strategic funding round led by DBA and Cyber Fund. Seed investors Ribbit Capital, Castle Island Ventures, and Geometry participated in the round. The funding will be used to accelerate the development of “Strata”, the company’s Bitcoin ZK Rollup project, which is slated for mainnet launch in 2025. Strata will be launched as an open platform to expand and accelerate Bitcoin adoption, unlocking many practical use cases 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 launch of its upcoming testnet. It is worth noting that Alpen Labs closed a $10.6 million funding round led by Ribbit Capital last April. The participation of seed investors in this round further demonstrates confidence in Alpen Labs and its Strata project.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Alpen Labs is developing Strata, a Bitcoin ZK Rollup project designed to scale and promote Bitcoin adoption.
Strata will unlock many practical functionalities for Bitcoin, such as easy self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins.
Alpen Labs has secured multiple rounds of funding, backed by prominent investors including Ribbit Capital, Castle Island Ventures, and Geometry.
Alpen Labs plans to launch the Strata mainnet in 2025, with a public testnet release starting next month.