According to Foresight News, Bitcoin L2 development company Alpen Labs launched a platform called "Strata" built with ZK rollup technology, according to CoinDesk. Strata was launched after two years of research and development by Alpen. In the first phase, Strata will be a ZK rollup on Bitcoin, with a trust-minimized BitVM bridge. According to long-term plans, Strata will become a settlement layer for ZK proofs directly on Bitcoin. According to Foresight News, Alpen Labs announced the completion of a $10.6 million financing round, led by Ribbit Capital, with participation from Castle Island Ventures, Robot Ventures, and Axiom Capital. Alpen Labs developed the Bitcoin Rollup infrastructure last year, aiming to introduce smart contract functionality to the Bitcoin network.