TechFlow reported on October 8 that, according to The Block, Bitlayer Labs, a Bitcoin Layer 2 network developer, announced the completion of a $9 million Series A extension round at a valuation of $300 million. The round was led by Polychain Capital and co-led by Franklin Templeton, with participation from institutions including SCB Limited, Selini Capital, and G-20.Group.
Charlie Hu, co-founder of Bitlayer, said the fundraising process began in early August and closed last week. The financing was conducted via a SAFE agreement including token warrants, with the valuation covering both equity and fully diluted token value. To date, Bitlayer has raised a total of $25 million.
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