Bitcoin infrastructure Alpen Labs completes $8.5 million strategic financing, led by Cyber Fund and others

According to official sources, Alpen Labs, a financial infrastructure on the Bitcoin chain, announced the completion of a $8.5 million strategic funding round, led by DBA and Cyber Fund. Ribbit Capital, Castle Island Ventures, and Geometry were the largest investors in its seed round and once again supported Alpen in this round of funding. This round of funding will help accelerate the development of Bitcoin ZK Rollup "Strata" and release it to the mainnet in 2025. It is reported that Strata will be launched as an open platform aimed at expanding and promoting the use of Bitcoin, which will unlock many practical features for Bitcoin: simple self custody, intuitive and privacy preserving payments, interoperability, Bitcoin supported lending and stablecoins, and many other on chain applications. Strata will be open to the public from next month with the upcoming release of the testing network. Last April, it was announced that Bitcoin L2 developer Alpen Labs had raised $10.6 million in funding, led by Ribbit Capital.