London-based crypto infrastructure startup BOB has raised a €8.1 million strategic spherical to construct a hybrid Layer 2 chain that lets customers earn yield on native BTC with out custodians or wrapped tokens.
This most up-to-date strategic spherical introduced in new backers together with Anchorage, Amber Group, and Sats Ventures, whereas additionally seeing elevated commitments from earlier traders comparable to Citadel Island Ventures – which led the sooner €8.6 million Seed spherical – in addition to Ledger, RockawayX, Uneven, IOSG Ventures, UTXO Administration, Daedalus, CMS, Bankless Ventures, Hypersphere, Alliance, and Sigil/Zeeprime. These comply with on from a €1.3 million angel spherical raised in early 2023 from undisclosed crypto-native traders.
This ends in a complete of €18 million throughout a sequence of funding rounds since December 2024.
Alexei Zamyatin, BOB Co-founder and BitVM Core Contributor, stated: “The truth that we proceed to draw new companions and so a lot of our unique traders have doubled down speaks volumes to the work our staff has executed to outline Bitcoin’s central position in DeFi. With the string of current developments and tier 1 companions selecting BOB to assist their Bitcoin methods, we’re demonstrating what’s doable with BOB’s distinctive Hybrid mannequin, bringing collectively the strengths of Bitcoin and Ethereum to redefine Bitcoin’s position in DeFi.”
Based in in 2024, BOB operates with a distributed staff throughout Europe and North America. The corporate has intentionally saved a low profile by way of its analysis and growth section, and is now moving into the highlight because it approaches mainnet launch.
The funds raised will speed up the event of BOB’s hybrid chain infrastructure, broaden ecosystem integrations, and assist institutional adoption.
Because the Gateway to Bitcoin DeFi, BOB intends to be the simplest and most secure place to earn with Bitcoin. Its Hybrid Chain mannequin combines the strengths of the Bitcoin and Ethereum networks, which implies all apps, property and transactions are secured by billions of {dollars} of staked BTC. Moreover, BOB will function BTC-secured bridges to Ethereum and different chains, offering a gateway to earn yield on Bitcoin throughout a number of chains.
Not too long ago, BOB launched native Bitcoin DeFi on its testnet with the assist of main establishments and DeFi protocols together with Lombard, Amber Digital and RockawayX. This growth, powered by BOB’s BitVM bridge, will make native BTC, not wrapped representations, accessible to their intensive Bitcoin DeFi ecosystem as soon as it goes dwell on mainnet.
Alongside this, BOB additionally says they grew to become the primary hybrid ZK rollup, dramatically decreasing price and growing effectivity for optimistic rollups by leveraging Zero-Information know-how for fraud disputes. Moreover, BOB’s integration with Fireblocks enhances institutional entry to Bitcoin DeFi by combining Fireblocks’ safe pockets infrastructure with BOB’s community.
Nic Carter, Founding Companion at Citadel Island Ventures, stated: “We consider within the huge potential of Bitcoin DeFi and see BitVM as the very best path ahead for trustless BTC deposits and withdrawals. BOB is the one Layer 2 implementing each BitVM for trustless deposits and Bitcoin finality by way of staked Bitcoin for Bitcoin-secured DeFi transactions. We’re excited to extend our funding and assist BOB’s mission to construct the gateway to Bitcoin DeFi.”
Whereas the startup continues to be within the means of updating its public-facing supplies – together with a LinkedIn web page and staff itemizing – it’s getting ready for broader visibility because it nears mainnet launch.
