Berlin-based crypto infrastructure startup BOB has raised a €9.5 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 reminiscent of Fort 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 lots of our unique traders have doubled down speaks volumes to the work our workforce has executed to outline Bitcoin’s central function in DeFi. With the string of current developments and tier 1 companions selecting BOB to help their Bitcoin methods, we’re demonstrating what’s attainable with BOB’s distinctive Hybrid mannequin, bringing collectively the strengths of Bitcoin and Ethereum to redefine Bitcoin’s function in DeFi.”
Based in in 2024 in Germany, BOB operates with a distributed workforce throughout Europe and North America. The corporate has intentionally stored a low profile by means of its analysis and improvement section, and is now entering 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 help institutional adoption.
Because the Gateway to Bitcoin DeFi, BOB intends to be the best and most secure place to earn with Bitcoin. Its Hybrid Chain mannequin combines the strengths of the Bitcoin and Ethereum networks, which suggests all apps, belongings 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.
Just lately, BOB launched native Bitcoin DeFi on its testnet with the help of main establishments and DeFi protocols together with Lombard, Amber Digital and RockawayX. This improvement, powered by BOB’s BitVM bridge, will make native BTC, not wrapped representations, out there to their in depth Bitcoin DeFi ecosystem as soon as it goes stay 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 Fort Island Ventures, stated: “We consider within the monumental potential of Bitcoin DeFi and see BitVM as one of the best path ahead for trustless BTC deposits and withdrawals. BOB is the one Layer 2 implementing each BitVM for trustless deposits and Bitcoin finality through staked Bitcoin for Bitcoin-secured DeFi transactions. We’re excited to extend our funding and help BOB’s mission to construct the gateway to Bitcoin DeFi.”
Whereas the startup remains to be within the means of updating its public-facing supplies – together with a LinkedIn web page and workforce itemizing – it’s making ready for broader visibility because it nears mainnet launch.
