Build on Bitcoin (BOB) Raises $1.6M in Strategic Funding Round

  • Build on Bitcoin (BOB) secures $1.6M in funding led by Ledger Ventures, focusing on Bitcoin and Ethereum integration.
  • $1M from the raised funds is allocated to a BOB incubator for Bitcoin infrastructure and dapps.
  • BOB aims to enhance Bitcoin’s use with Ethereum’s tech, promising greater scalability and dapp access.

Build on Bitcoin (BOB), a hybrid Layer 2 startup that uses Bitcoin and Ethereum, has successfully received $1.6 million in a strategic fundraising round. The financing was headed by Ledger Ventures, with major participation from various angel investors.

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Angel investors in this funding round include notable figures from BlackRock, Rarible, Ordinals, Aave, Curve, Threshold, Magic Eden, Mechanism, Injective, Vessel Capital, Babylon, and Centrifuge. The broad spectrum of investors highlights the growing interest and confidence in BOB’s innovative approach.

Out of the total funds raised, $1 million is earmarked for a BOB incubator, supporting new startups focusing on Bitcoin infrastructure and BOB decentralized applications (dapps). 

Marguerite de Tavernost from Ledger Cathay Fund emphasized BOB’s unique position in combining Bitcoin’s strengths with Ethereum’s innovative capabilities. She noted that Bitcoin Layer 2 solutions like BOB significantly enhance Bitcoin’s scalability and execution capabilities, demonstrated by securing large Total Value Locked (TVL) volumes and integrating DeFi applications.

BOB primarily aims to bridge Bitcoin’s potential for mass adoption with the Ethereum Virtual Machine (EVM) capabilities and ecosystem. By implementing a rollup solution, BOB enhances security through Bitcoin while enabling access to dapps, DeFi, and stablecoins.

This integration allows developers to build dapps on Bitcoin’s network, offering users greater access to innovative applications on the Ethereum network without leaving the Bitcoin blockchain.

With $1 million dedicated to fostering new startups, BOB is well-positioned to drive innovation within the Bitcoin and Ethereum ecosystems.

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