Bitlayer Raises $9M in Extended Series A, Prepares for V2 Launch

In its extended Series A investment round, Bitlayer, a well-known Layer 2 platform based on Bitcoin, raised an additional $9 million. With this most recent investment, the total amount raised has reached $25 million, indicating a high level of investor trust prior to the planned release of Bitlayer V2.

Venture finance company Polychain finance spearheaded the round, with asset manager Franklin Templeton providing ongoing assistance. Templeton had also co-led the first investment phase. Bitlayer Labs stressed that as the platform is ready to launch Bitlayer V2, this funding represents a critical turning point. With the use of OpVM technology, this new version seeks to develop Bitcoin-native rollups by incorporating fraud proofs and validity proofs to protect state transitions.

Co-founder Kevin He highlighted the transformative nature of Bitlayer’s technology, stating, “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.”

Growth and Partnerships Driving Ecosystem Expansion

Since launching its mainnet V1 in April 2024, Bitlayer has experienced significant growth. The platform boasts over 280 decentralized applications, ranging from developer tools to decentralized finance, wallets, gaming, and non-fungible tokens. Additionally, real-world assets and the metaverse have started to gain momentum on the network.

Important alliances have also aided in Bitlayer’s quick growth. Notable collaborators include Ankr, Polyhedra, Particle Network, and Babylon. To strengthen its infrastructure, the platform has also teamed with cloud services provider AWS Cloud and blockchain security auditor Hacken.

G-20 Group, Selini Capital, and SCB Limited participated in the most recent investment round. In the meanwhile, organizations like Framework Ventures, ABCDE, OKX Ventures, and Franklin Templeton supported Bitlayer’s July investment.