Botanix Labs Secures $11.5 Million Funding to Develop Bitcoin-Native DeFi Ecosystem

Botanix Labs, a Bitcoin development startup based in New York and founded at Harvard, has announced a significant funding of $11.5 million in a press release sent to Bitcoin Magazine.

This funding round, led by prominent investors including UTXO Management, Polychain Capital, Placeholder Capital, Valor Equity Partners, ABCDE, Andrew Kang, Dan Held, Dovey Wan, Eric Wall and others, will fuel the creation of the Spiderchain. Spiderchain claims to be the first Bitcoin-native Layer 2 primitive with full EVM equivalence, envisioned to support a global financial system built on Bitcoin. This funding follows a previous seed series round of $8.5 million in April.

“Our team at Botanix Labs…

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