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Bitlayer Labs raised $5M in a seed funding led by Framework Ventures and ABCDE Capital to launch Ready Player One program and grow its team.

Apr 03, 2024•over 1 year ago

Amount Raised

$5 Million

Round Type

seed

SingaporeInformation Technology

Investors

Loi LuuAndyTrungDymaDan HeldDan Mc ArdleRyan SelkisWeb3 PortPivot GlobalGlobal Coin ResearchKestrelKenetic CapitalAsymmetric CapitalUtxo ManagementAlliance DaoOkx VenturesStark WareAbcde CapitalFramework Ventures

Description

Bitlayer Labs, the developer of Bitcoin Layer 2 protocol Bitlayer, announced a seed round of $5M led by Framework Ventures and ABCDE Capital, participation by StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital and many more. The announcement comes as Bitlayer prepares the launch of its open-incentive program Ready Player One, inviting developers worldwide to augment, enhance, and build on the protocol.

Company Information

Company

Bitlayer

Location

Singapore, Southeast Asia, Singapore

About

Bitlayer is the first Layer 2 solution offering Bitcoin-equivalent security and Turing completeness. It's also the first built on BitVM. Bitlayer aims to bring secure scalability to the Bitcoin ecosystem, promoting asset diversity and spurring innovation for a faster, safer, and more flexible user experience.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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