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Hemi Labs, a DeFi ecosystem leveraging both Bitcoin and Ethereum, Closes $15 Million Funding Round Led By Breyer Capital and Binance


 DeFi ecosystem leveraging both Bitcoin and Ethereum

September 18, 2024


Hemi Labs has successfully raised $15 million in a funding round led by Binance Labs, Breyer Capital, and Big Brain Holdings, with additional investments from Crypto.com, HyperChain Capital, and Quantstamp. Announced on September 18, 2024, this funding supports Hemi Labs’ vision of creating a DeFi ecosystem that integrates both Bitcoin and Ethereum.

Project

Latest Raise

Latest Raise Date

Lead Investor

Category

Hemi Labs

$15M

September 18, 2024

Breyer Capital and Binance

DeFi

Co-founded by Jeff Garzik, an early Bitcoin developer, and Max Sanchez, a blockchain security expert, Hemi Labs is developing the Hemi Network, a modular Layer 2 network designed to support DeFi applications that interact with both Bitcoin and Ethereum. Sam Kim from Big Brain Holdings highlighted that Hemi is not just bridging the two largest blockchain networks but creating a supernetwork that combines their capabilities.


Binance Labs, one of the largest crypto venture capital firms, manages around $10 billion in assets and has invested in over 200 projects. Breyer Capital has a diverse portfolio, including investments in Marvel, Epic Games, and early stakes in Facebook, Circle, and Spotify. Big Brain Holdings focuses on the Solana ecosystem and is a notable web3 fund.


About Hemi Labs

Hemi Labs is developing a modular blockchain network called Hemi, which is built on both Bitcoin and Ethereum. This network aims to enhance scalability, security, and interoperability for decentralized finance (DeFi) applications. By integrating the strengths of Bitcoin and Ethereum, Hemi provides a robust platform for various financial activities, making it easier for users to interact with both blockchains seamlessly.


 

About Investor

This funding round led by Binance Labs, Breyer Capital, and Big Brain Holdings, with additional investments from Crypto.com, HyperChain Capital, and Quantstamp.

 

 

 

A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.

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