A $7 million startup investment was raised by Arch Labs, an application platform that runs on Bitcoin.
Investors
- Multicoin Capital
- Tangent
- Big Brain Holdings
- CMS Holdings
- OKX Ventures
- Portal Ventures
Use of funds
With the money, the business plans to strengthen its app ecosystem, recruit more core developers, and assist in bringing the Arch Network live on the mainnet in H2 2024.
About Arch Labs
Under Matt Mudano’s direction, Arch is developing a platform for Bitcoin-native applications that will enable “bridgeless” trading right on the Bitcoin network. The Arch Network is a proof-of-stake, parallelized network that improves the programmability of Bticoin natively through the use of zk-proofs. The network is made up of a decentralized verifier network and an ArchVM, a Rust-based zkVM. These elements work together to provide a trustless execution environment that enables bridgeless trading experiences right within the Bitcoin network.
