Botanix Labs Secures $11.5M for Bitcoin L2 Network Spiderchain

May 7, 2024, 04:03 PM

Botanix Labs, a Bitcoin development startup, has successfully raised $11.5 million to fund the development of its layer-2 network, Spiderchain. The funding round included contributions from Polychain Capital, Placeholder Capital, Valor Equity Partners, and other industry-leading investors. Spiderchain aims to provide functionality equivalent to Ethereum's EVM, enhancing the Bitcoin ecosystem.