#Bitcoin infrastructure provider Alpen Labs raises $8.5 million in funding#

Bitcoin infrastructure company Alpen Labs recently announced the completion of an $8.5 million strategic funding round led by DBA and Cyber Fund, with continued participation from seed round lead investors Ribbit Capital, Castle Island Ventures, and Geometry. The funds will be used to accelerate the development of Strata, Alpen Labs’ Bitcoin ZK Rollup project, which is planned to launch its mainnet in 2025. Strata will be launched as an open platform with the aim of scaling and facilitating the use of Bitcoin, unlocking numerous practical functionalities 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 made available to the public next month with the upcoming launch of its testnet. Notably, Alpen Labs completed a $10.6 million funding round led by Ribbit Capital in April last year. This latest funding round further demonstrates investor confidence in Alpen Labs and its Bitcoin ZK Rollup project Strata, signaling the enormous potential of the Bitcoin infrastructure space.