According to Foresight News, Botanix Labs, the developer of the BTC L2 solution Spiderchain, has announced the completion of a $11.5 million funding round. The investors include Polychain Capital, Placeholder Capital, Valor Equity Partners, ABCDE, and angel investors Andrew Kang, Fiskantes, Dan Held, The Crypto Dog, and Domo, the founder of BRC20. The funds raised will be used to build its decentralized EVM equivalent BTC L2 solution, Spiderchain.
Spiderchain network, with functionality equivalent to EVM, aims to combine the ease of use of EVM with the security of Bitcoin. Since its testnet went live in November 2023, it has had over 200,000 active addresses.
