#Bitcoin infrastructure provider Alpen Labs raises $8.5 million in funding.#
Hot Topic Overview
Overview
Bitcoin infrastructure firm Alpen Labs announced today it has closed an $8.5 million strategic funding round co-led by DBA and Cyber Fund, with prior investors Ribbit Capital, Castle Island Ventures, and Geometry participating. The funds will be used to accelerate the development of Alpen Labs’ Bitcoin ZK Rollup project, “Strata,” which is slated to launch its mainnet in 2025. Strata aims to expand Bitcoin’s use cases by unlocking functionalities like simple self-custody, privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins. This is the second major funding round for Alpen Labs in just a year, following a $10.6 million raise in April 2022, demonstrating investor confidence in Alpen Labs and its Strata project.
Ace Hot Topic Analysis
Analysis
Bitcoin infrastructure company Alpen Labs announced today it has closed an $8.5 million strategic funding round led by DBA and Cyber Fund, with continued participation from seed round investors Ribbit Capital, Castle Island Ventures, and Geometry. The funds will be used to accelerate the development of its Bitcoin ZK Rollup project, "Strata," which is planned to launch on mainnet in 2025. Strata will be launched as an open platform designed to expand and foster Bitcoin usage, unlocking numerous utility functionalities for it, including simple self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, and other on-chain applications. Strata will open to the public next month with the upcoming release of its testnet. Notably, Alpen Labs also completed a $10.6 million funding round in April last year led by Ribbit Capital. This latest funding round is a testament to investor confidence in Alpen Labs and its Bitcoin ZK Rollup project, and it signals continued growth in the Bitcoin infrastructure space.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Alpen Labs is developing a Bitcoin ZK Rollup project called Strata, aimed at expanding and facilitating the use of Bitcoin.
Strata will be launched as an open platform, unlocking many practical features for Bitcoin such as easy self-custody, intuitive and privacy-preserving payments, interoperability, Bitcoin-backed lending and stablecoins, among others.
Alpen Labs has secured $8.5 million in strategic funding led by DBA and Cyber Fund, with continued participation from seed investors Ribbit Capital, Castle Island Ventures, and Geometry.
Strata plans to launch its mainnet in 2025 and will be open to the public starting next month with the upcoming testnet release.