Botanix Labs Secures $11.5 Million Funding to Develop Bitcoin-Native DeFi Ecosystem
Founded at Harvard, Botanix Labs raises millions to build the first Bitcoin-native Layer 2 primitive with full EVM equivalence — Spiderchain.
Botanix Labs, a Bitcoin development startup based in New York and founded at Harvard, has announced a significant funding of $11.5 million in a press release sent to Bitcoin Magazine.
This funding round, led by prominent investors including UTXO Management, Polychain Capital, Placeholder Capital, Valor Equity Partners, ABCDE, Andrew Kang, Dan Held, Dovey Wan, Eric Wall and others, will fuel the creation of the Spiderchain. Spiderchain claims to be the first Bitcoin-native Layer 2 primitive with full EVM equivalence, envisioned to support a global financial system built on Bitcoin. This funding follows a previous seed series round of $8.5 million in April.
“Our team at Botanix Labs is driven by the mission of building the infrastructure that supports aglobal financial system running on Bitcoin for the next 100 years,” Willem Schroé, inventorof the Spiderchain and Co-founder of Botanix Labs stated. “The Spiderchain can scale the Bitcoinecosystem to eight billion users and unlock trillions in capital that has sat idle for years. We’re proud to have the support of so many industry veterans who share our vision for reshaping howthe world thinks about building on Bitcoin.”
Our team is also proud to be supported by a diverse group of prestigious angel investors who share our vision for the future of Bitcoin. pic.twitter.com/xqoaPcz6Bs— Botanix Labs
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