The Bitcoin Layer2 project BEVM has announced the completion of its seed round, and also a part of its Series A round, raising tens of million USD.
The 20+ investors include RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, Satoshi Lab, Web3port, Cogitent Ventures, MH Ventures, Mapleblock, Electrum Capital, Zephyrus Capital, Lotus Capital, 7UPDAO, TimeTells plus others. BEVM’s Series A valuation reached $200 million and accelerates the project’s international development and roll-out.
BEVM is the first EVM-compatible Bitcoin Layer2 network built on Taproot Consensus and uses BTC as gas, aiming to bring 10% of BTC into its Layer2 network environment. BEVM’s testnet Canary network went live in July 2023, which to date has nearly 100,000 on-chain users, processed over 6 million transactions and currently has more than 30 ecosystem projects. BEVM’s mainnet is scheduled to launch on March 28th.
Gavin Guo, Core Builder of BEVM said