TechFlow news, September 18 — According to Coindesk, Hemi Labs, co-founded by Bitcoin developer Jeff Garzik, announced a $15 million funding round to develop and launch Hemi, a Layer-2 blockchain network built on both Bitcoin and Ethereum. The round was led by Binance Labs, Breyer Capital, and Big Brain Holdings.
Breyer Capital has previously backed early-stage investments in Facebook, Circle, and Spotify. As a single blockchain serving as a Layer-2 solution for both Bitcoin and Ethereum, the Hemi network aims to combine the strengths of both ecosystems—integrating Bitcoin's security with Ethereum's liquidity and programmability. Garzik stated that the most compelling approach in building a Layer-2 network is one that leverages both Bitcoin and Ethereum simultaneously. Currently, Hemi’s incentivized testnet is live, with the mainnet scheduled for launch in the fourth quarter of this year. Other participating investors include prominent names such as Crypto.com, Web3 Ventures, and HyperChain Capital.
