What does Arch Labs do?
Arch Labs is a Tampa-based software development company and the core contributor to Arch Network. The company focuses on creating a bridgeless execution platform that enables developers to deploy interoperable smart contract-like programs directly on Bitcoin, leveraging the network's liquidity and enhancing user experience.
How much did they raise?
The company secured $13M in Series A funding, with the round led by Pantera Capital and participation from other strategic investors, achieving a valuation of $200M.
What are their plans for the money?
Arch Labs intends to use the funds to accelerate the development and launch of ArchVM, a platform designed to offer fast, secure, and fully verifiable smart contract-like functionality on Bitcoin. This development could significantly enhance the interoperability and efficiency of Bitcoin-based applications.
What have they achieved so far?
Previously, Arch Labs raised $7M led by Multicoin Capital, demonstrating its ongoing progress and established presence as the core contributor to Arch Network.
