BOB, a company developing decentralized finance (DeFi) solutions based on Bitcoin, successfully raised $9.5 million in its latest strategic investment round.
Investment Round Details
In its latest investment round, BOB raised $9.5 million, bringing the project's total funding to $21.1 million. This round features notable investors, including Castle Island Ventures, which led the initial $10 million round, along with Ledger Cathay Fund, RockawayX, and others.
Role of Strategic Investors
New strategic investors in this round include Anchorage, Amber Group, and Sats Ventures. BOB previously completed a $1.6 million angel investment round, while the company's valuation was not disclosed.
Goals and Prospects of BOB
With this new funding, BOB aims to further develop its hybrid model, create new use cases, and add liquidity to Bitcoin. The company targets the development of a chain that leverages the advantages of both Bitcoin and Ethereum, enabling applications and transactions secured by staked BTC.
Thus, BOB is on track to expand the possibilities for Bitcoin in the decentralized finance space, aiming to combine the best features of two major blockchains.
