December 4, 2024
Fiamma, a Bitcoin and ZK infrastructure company, has completed a $4 million seed funding round. The investment was led by Lightspeed Faction and L2 Iterative Ventures (L2IV) with additional contributions from Astera Ventures, Contribution Capital, Sats Ventures, Chapter One, and FoundersHead. Strategic investors, including BOB (Build on Bitcoin) and founders of Satlayer and Daedalus, also participated in the oversubscribed round. The company aims to scale operations, accelerate product development, and drive adoption of its solutions.
Fiamma’s key offerings include the Fiamma Bridge and Fiamma Layer. The Fiamma Bridge is described as the first trust-minimized Bitcoin bridge, while the Fiamma Layer introduces ZK verification powered by BitVM2, a technology enabling scalable and programmable functionality on Bitcoin. These solutions pave the way for integrating Bitcoin into broader financial ecosystems and enable applications such as stablecoins, decentralized finance (DeFi), and cross-chain interoperability. The company has also introduced highly efficient ZK verifiers, named Fflonk and Groth16, enhancing the capabilities of Bitcoin’s scripting.
The funding will support Fiamma’s efforts to advance these technologies and collaborate with strategic partners in the ZK and Bitcoin spaces. To mark this milestone, Fiamma is launching "The Mama Code" testnet campaign, inviting users to explore the Fiamma Bridge’s capabilities and offering rewards for early adoption. These initiatives align with the company’s vision of making Bitcoin a cornerstone of decentralized financial systems and the broader blockchain ecosystem.
About Fiamma
Fiamma, a Bitcoin and ZK infrastructure company, focuses on transforming Bitcoin into a programmable asset for real-world applications. Its flagship products, the Fiamma Bridge and Fiamma Layer, utilize BitVM2 to provide scalable, trustless Bitcoin-native functionalities. The company is supported by leading investors and advances blockchain and decentralized financial technologies.
Website: https://fiamma.io
X: @fiamma_chain
About Investors
Lightspeed Faction
Lightspeed Faction is a venture capital firm focusing on investments in blockchain and cryptocurrency projects. It provides strategic funding and support to projects aiming to reshape digital ecosystems.
Location: Menlo Park, California Website: https://lsvp.com/
L2 Iterative Ventures (L2IV)
L2IV specializes in blockchain infrastructure investments, with a focus on scaling and enhancing the functionality of decentralized networks. It supports projects that drive innovation in blockchain technology.
Location: San Francisco Website: https://www.l2iterative.com/ A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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