Hemi Labs Raises $15 Million to Develop Modular Layer-2 Bitcoin-Ethereum Blockchain Network

Sep 18, 2024, 01:10 PM

Hemi Labs, a new project founded by renowned Bitcoin developers Jeff Garzik and Maxwell Sanchez, has successfully raised $15 million in a strategic seed round. The funding round was led by Binance Labs, with additional investments from Breyer Capital and Brig Brain Holdings. Hemi Labs aims to develop a pioneering modular Layer-2 blockchain network, Hemi, that integrates Bitcoin and Ethereum, enhancing security and programmability. The Hemi Network's testnet is currently live, with plans to deploy on the mainnet next quarter. The project also intends to introduce multiple updates, including AI data anchoring and DeFi applications.