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Botanix Labs raises $8.5 million in a seed funding round led by Polychain Capital, Placeholder Capital, Valor Equity Partners and ABCDE to build a Bitcoin-native DeFi ecosystem

May 07, 2024over 1 year ago

Amount Raised

$8.5 Million

Round Type

seed

New YorkSoftware

Investors

Eric WallBlocmatesXbto VenturesUtxo ManagementCuriosity CapitalEdessa CapitalDomo (Creator Of The Brc 20 Token Standard)Walt SmithDavis (A.K.A., “Karbon Based”)Crypto IsoIcebergyJebusDovey WanAltcoin SherpaCharlie SpearsThe Crypto DogDan HeldFiskantesAndrew KangAbcdeValor Equity PartnersPlaceholder CapitalPolychain Capital

Description

Botanix Labs raised $8.5 million in a seed funding round from Polychain Capital, Placeholder Capital, Valor Equity Partners, and ABCDE, as well as from several angel investors, to build a Bitcoin-native DeFi ecosystem. The funds will be used to build the Spiderchain, a Bitcoin-native Layer 2 primitive with full Ethereum Virtual Machine equivalence, and to grow the company's team for product development.

Company Information

Company

Botanix Labs

Location

100 Church Street

New York, New York, United States

About

Botanix unites Bitcoin's market cap with Ethereum's dApp ecosystem, fusing the best of both worlds. Bitcoin's fair distribution, decentralization, and unparalleled security meet Ethereum's diverse applications, igniting a new frontier.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers