Singapore’s Bitlayer Labs, the pioneering Bitcoin Layer 2 solution based on the BitVM paradigm, has announced the successful closure of its $11 million Series A funding round.
- Series A Success: Bitlayer raised $11 million in its Series A round, with Franklin Templeton and ABCDE leading the investment. This brings Bitlayer’s total funding to $16 million, highlighting strong support from major industry players.
- Diverse Investor Pool: Other notable participants in the Series A round include Stake Capital Group, WAGMI Ventures, Skyland Ventures, Flow Traders, and GSR Ventures, among others.
- Focus on Expansion: The Series A funds will be used to expand Bitlayer’s ecosystem and support the development of native Web3 protocols.
- Strategic Vision: Bitlayer Labs is committed to addressing security and scalability challenges in Bitcoin’s Layer 2 infrastructure. Their goal is to deliver high-throughput, low-cost transactions while maintaining Bitcoin’s security.
This investment is poised to accelerate Bitlayer’s growth and technological advancements.
