TechFlow reported on July 10, according to The Block, that BOB (Build on Bitcoin), a hybrid Layer-2 project powered by Bitcoin and Ethereum, has raised $1.6 million in funding led by Ledger Ventures. Angel investors include notable figures from BlackRock, Rarible, Ordinals, Aave, Curve, Threshold, Magic Eden, Mechanism, Injective, Vessel Capital, Babylon, and Centrifuge.
Of the funds raised, $1 million will be allocated to the BOB Incubator to support new startups focused on Bitcoin infrastructure and BOB dapps. BOB aims to connect Bitcoin's mass adoption potential with the Ethereum Virtual Machine (EVM) capabilities and its ecosystem by leveraging Bitcoin for security while enabling users to access rollup solutions for dapps, DeFi, and stablecoins.
