TechFlow reported, according to The Block, that Bitcoin Layer 2 project Bitfinity has raised $7 million in funding from Polychain Capital, ParaFi Capital, Warburg Serres, Dokia Capital, and Draft Ventures. The funding was split into two parts: a seed round of approximately $1 million in 2021, followed by a growth round completing the remaining amount in June last year. Both rounds were token-based financings, with the second round valuing Bitfinity at $130 million.
Notably, Bitfinity is a Bitcoin scaling network built on the Internet Computer Protocol, enabling Ethereum developers to build Bitcoin-enabled decentralized applications on its platform. Currently in testnet phase, Bitfinity plans to launch its mainnet later this month or in early February.
