Arch Labs Raises $7M to Develop Bitcoin-Native Applications and Expand Arch Network
Arch Labs Raises $7M in Seed Funding
Arch Labs Raises $7M in Seed Funding
Key Highlights:
- Seed Funding: Arch Labs, a Bitcoin-native application platform, secured $7 million in seed funding.
- Investors: Multicoin Capital led the round, with participation from OKX Ventures, Portal Ventures, Big Brain Holdings, CMS Holdings, and Tangent.
- Future Plans: The funding will be used to hire core developers, launch the Arch Network into mainnet in H2 2024, and support the app ecosystem.
Arch Labs' Target Market
- Bitcoin Community: Targeting individuals and businesses within the Bitcoin ecosystem, including traders, developers, and enthusiasts.
- DeFi and Trading Enthusiasts: Offering bridgeless trading experiences and enhanced programmability on the Bitcoin blockchain.
- Blockchain Developers: Providing a platform for developers to build Bitcoin-native applications and contribute to the Arch Network ecosystem.
What Arch Labs Needs to Buy
- Talent Acquisition: Hiring additional core developers to strengthen the team and drive innovation in Bitcoin-native application development.
- Marketing and Community Building: Engaging with the Bitcoin community, DeFi enthusiasts, and blockchain developers through marketing campaigns and community events.
- Partnerships and Integrations: Collaborating with other blockchain projects and platforms to expand the functionality and reach of the Arch Network.