{"id":95903,"date":"2024-10-08T20:07:31","date_gmt":"2024-10-09T00:07:31","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=95903"},"modified":"2024-10-08T20:20:45","modified_gmt":"2024-10-09T00:20:45","slug":"bitlayer-raises-9m-in-extended-series-a-funding","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitlayer-raises-9m-in-extended-series-a-funding\/","title":{"rendered":"Bitlayer Raises $9M in Extended Series A Funding\u00a0"},"content":{"rendered":"\n

The extended Series A investment round for Bitlayer, a Layer 2 platform<\/a> running on Bitcoin, has brought the total amount collected to $25 million.\u00a0
<\/p>\n\n\n\n

\"Bitlayer
Bitlayer Raises $9M in Extended Series A Funding<\/figcaption><\/figure>\n\n\n\n

The extended round was led by venture capital firm Polychain Capital, according to the Bitcoin L2 network. Franklin Templeton<\/a>, an asset manager who co-led the initial round, returned to co-lead. <\/p>\n\n\n\n

Before Bitlayer V2 is expected to launch, Bitlayer Labs emphasized the funding round as a crucial step. With the help of OpVM, this release provides a Bitcoin-native rollup that protects state transitions via fraud and validity checks. Co-founder Kevin He offered the following insight on the technology:\u00a0<\/p>\n\n\n\n

\n

It empowers Bitcoin to seamlessly integrate into any programmable blockchain environment in a trustless manner, which will catalyze rapid development and widespread adoption of a decentralized application ecosystem based on Bitcoin's substantial liquidity.”<\/p>\n<\/blockquote>\n\n\n\n

Advancing Bitcoin's L2 ecosystem<\/h2>\n\n\n\n

The most recent investment comes after Bitlayer's $11 million Series A round\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> in July and its $5 million seed round, which was concluded in March 2024. <\/p>\n\n\n\n

Bitlayer has gained traction since releasing its mainnet V1 on April 15, and the most recent fundraising confirms investor faith in the platform. <\/p>\n\n\n\n

More than 280 decentralized applications<\/a> in gaming, non-fungible tokens, wallets, decentralized finance, and infrastructure have been deployed, according to Bitlayer's growth metrics. <\/p>\n\n\n\n

The network also observes notable activity about real-world assets and the metaverse. Important alliances have formed with platforms such as Babylon, Polyhedra, Ankr, and Particle Network.<\/p>\n\n\n\n

Additionally, Bitlayer Labs has partnered with cloud computing provider AWS Cloud and blockchain security auditor Hacken. <\/p>\n\n\n\n

The extended round's supporters included G-20 Group, Selini Capital, and SCB Limited. Among the investors in the July fundraise were Framework Ventures, Franklin Templeton, ABCDE, and OKX Ventures<\/a>.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The extended Series A investment round for Bitlayer, a Layer 2 platform running on Bitcoin, has brought the total amount collected to $25 million.\u00a0 The extended round was led by venture capital firm Polychain Capital, according to the Bitcoin L2 network. Franklin Templeton, an asset manager who co-led the initial round, returned to co-lead. Before […]<\/p>\n","protected":false},"author":43,"featured_media":95904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[20759,22255,4554],"class_list":["post-95903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitlayer","tag-layer-2-platform","tag-series-a-funding"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/croc_1728431802790.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=95903"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/95904"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=95903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=95903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=95903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}