#Bitcoin infrastructure raises $8.5 million in funding#

Bitcoin infrastructure provider Alpen Labs recently announced the closing of an $8.5 million strategic funding round led by DBA and Cyber Fund, with seed 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 scheduled to launch its mainnet in 2025. Strata aims to expand and facilitate the use of Bitcoin, unlocking numerous practical features, including simple 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 starting next month with the upcoming release of its testnet. Notably, Alpen Labs had previously closed a $10.6 million funding round in April last year, led by Ribbit Capital. This recent funding round further demonstrates investor confidence in Alpen Labs and its Bitcoin ZK Rollup project, signaling the continued growth of Bitcoin infrastructure development.