We’re thrilled to announce our $8.5M Strategic Round, co-led by DBA and Cyber Fund.
Two years ago, we saw an opportunity at the intersection of two ongoing revolutions: in computing, through zero-knowledge proofs, and in money, through bitcoin. Our conviction remains as strong as ever as we build Strata, our bitcoin ZK rollup, at the confluence of these two revolutions. This round will help us supercharge the development and launch of Strata into mainnet in 2025.
MJ and Jon (co-founders of DBA) are deep, contrarian thinkers who share our conviction around bitcoin and ZK. Jon’s eloquent writings on rollups and blockchains have often challenged and pushed the industry forward, and their close relationships allow them to bring leading innovators together for conferences like Research Day.
The Cyber Fund team consists of top builders and researchers who also share our conviction. Cyber’s co-founders Konstantin & Vasiliy also started Lido, one of the biggest DeFi protocols on Ethereum, along with several other projects like P2P.
Ribbit Capital, Castle Island Ventures and Geometry were the biggest investors in our seed round and are supporting Alpen again in this round.
Alongside the lead investors, we are thrilled to have collaborators across the industry participating in this round to support the development and launch of Strata.
Strata will be launched as an open platform that expands and facilitates usage of bitcoin, bringing simple and scalable self-custody, intuitive and privacy-preserving payments, interoperability with other digital assets, BTC-backed borrowing & stablecoins, and many other onchain applications to the bitcoin ecosystem.
Developers can already start building on Strata with our devnet access, and Strata will be open to the public starting next month with our upcoming testnet release.
