SatLayer raised $8 million in a pre-seed funding round co-led by Hack VC and Castle Island Ventures to enhance Bitcoin's role as collateral in decentralized applications.

Aug 22, 2024•over 1 year ago

Amount Raised

$8 Million

Round Type

seed

MiamiCryptocurrencyBlockchain

Investors

PendleSuiMagic EdenManta NetworkLayer ZeroCustodia BankA PrioriCms HoldingsBig Brain HoldingsAmber GroupMirana VenturesOkx VenturesFranklin TempletonCastle Island VenturesHack Vc

Description

SatLayer, a Bitcoin restaking platform, raised $8 million in a pre-seed funding round. The round was oversubscribed and included key participation from Hack VC and Castle Island Ventures, along with several other notable investors.

Company Information

Company

SatLayer

Location

Miami, Florida, United States

About

SatLayer is a Bitcoin restaking platform built on the Bitcoin staking protocol Babylon. It allows users to earn additional rewards by restaking their Bitcoin and Bitcoin liquid-staking tokens across various protocols. The platform aims to enhance the security and utility of Bitcoin as a core collateral asset for decentralized applications. With around 10 employees, SatLayer is hiring for various roles in engineering, research, and product.

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Funding Insights

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