#Bitcoin infrastructure raises $8.5 million in funding#
Hot Topic Overview
Overview
Bitcoin infrastructure company Alpen Labs has 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 participating. The funds will be used to accelerate the development of Bitcoin ZK Rollup "Strata," which is planned to launch on mainnet in 2025. Strata will be launched as an open platform, aiming to expand and facilitate the use of Bitcoin, unlocking further utilities such as simple self-custody, privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins. Alpen Labs previously secured $10.6 million in funding in April 2024. This latest fundraising round further signifies investor confidence in the project and the Bitcoin Layer 2 space.
Ace Hot Topic Analysis
Analysis
Bitcoin infrastructure firm Alpen Labs announced the completion of an $8.5 million strategic funding round led by DBA and Cyber Fund, with participation from previous seed round investors Ribbit Capital, Castle Island Ventures, and Geometry. The funding will be used to accelerate the development of its Bitcoin ZK Rollup, "Strata," which is scheduled for mainnet launch in 2025. Strata will be launched as an open platform aimed at expanding and facilitating Bitcoin usage, unlocking a plethora of utility for Bitcoin, 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 next month with the upcoming release of its testnet.Alpen Labs previously raised $10.6 million in April 2024, led by Ribbit Capital. This latest round of funding highlights investor confidence in Bitcoin infrastructure and ZK Rollup technology, signaling a new phase of development for the Bitcoin ecosystem.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Alpen Labs is developing a Bitcoin ZK Rollup project called Strata, designed to expand and promote the use of Bitcoin.
Strata will launch as an open platform, unlocking numerous practical features for Bitcoin, such as easy self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, and more.
Alpen Labs has secured $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.
This funding will help Alpen Labs accelerate the development of Strata, with plans to launch it on mainnet in 2025.