Midl raises $2.4 million seed funding from Draper Associates and Draper Dragon to advance Bitcoin-native dApp infrastructure
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Midl raises $2.4 million seed funding from Draper Associates and Draper Dragon to advance Bitcoin-native dApp infrastructure
Midl is an execution environment that brings smart contracts to Bitcoin, opening the door to natively building a new generation of decentralized applications on the world's most secure blockchain, along with providing specialized developer tools.
Navigating Web3 tides with focused insights
Midl, an infrastructure project dedicated to bringing smart contracts to the Bitcoin network and supporting native decentralized applications (dApps) and financial products, has announced the completion of a $2.4 million seed funding round.
The round was led by Draper Associates, an early-stage venture capital firm founded by Tim Draper, known for backing industry-leading companies such as Coinbase, Robinhood, and Ledger. The cross-border blockchain innovation fund Draper Dragon also participated in the investment, having previously supported prominent projects including Kelp DAO and Ether.Fi.
This funding milestone marks another significant phase in the development of Bitcoin's financial ecosystem and highlights growing institutional interest in BTCFi—the new wave of Bitcoin-native decentralized finance. With Midl, developers can now build and run dApps directly on the Bitcoin network, unlocking the potential of Bitcoin’s $2 trillion liquidity.
Iva Wisher, founder of Midl, said: “It’s rare to get involved this early in something so pivotal. Midl takes Bitcoin programmability to unprecedented levels. Native Bitcoin tokens finally have a home where real applications and economies can thrive—spanning trading, DeFi, gaming, governance, and beyond.”
Unlocking Bitcoin’s Potential
Unlike solutions relying on sidechains, bridges, or Layer 2s, Midl introduces a native execution environment to Bitcoin, enabling decentralized applications to run directly on the Bitcoin network.
This environment includes seamless support for Bitcoin-native token standards, allowing them to be traded, used functionally, and integrated into various products and services from day one.
Currently, Midl is in testnet phase, with mainnet launch expected soon. Multiple early DeFi protocols are already operating on the testnet, alongside over 20 projects at various stages of deployment on the network.
In addition to technical deployments, Midl has launched a series of retail-focused initiatives designed to drive real-world usage and liquidity within the Bitcoin ecosystem from day one. These efforts aim to accelerate early adoption and inject liquidity into the Bitcoin ecosystem ahead of mainnet launch.
Backed by Veterans of Early-Stage Tech Investing
Draper Associates, founded in 1985 by Tim Draper, is a venture capital firm renowned for its forward-looking investment philosophy and for funding transformative technology companies across multiple industries. Draper Associates holds a strong portfolio in crypto and blockchain, having backed early leaders such as Coinbase, Ledger, and Robinhood.
Draper Dragon is a cross-border venture capital firm focused on early-stage Web3 and technology startups. It invests in innovative blockchain projects shaping the future of decentralized finance and digital ecosystems, with a portfolio that includes well-known projects like Kelp DAO and Ether.Fi.
About Midl
Midl is an execution environment that brings smart contracts to Bitcoin, opening the door to a new generation of decentralized applications natively built on the world’s most secure blockchain, along with specialized developer tools.
With Midl, full-scale dApps can run directly on the Bitcoin network: everything once thought possible only on Ethereum can now be built on Bitcoin. The protocol enhances developer and user experience by enabling multiple EVM-like interactions within a single Bitcoin transaction, improving scalability and throughput.
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