Bitcoin Layer 2 network Bitfinity completed funding with an estimated valuation of $130 million, with participation from Polychain Capital and others.

According to BlockBeats news on January 11, Bitfinity, a Bitcoin Layer 2 network based on Internet Computer and compatible with EVM, has completed a $7 million financing round with a valuation of $130 million. The financing round was participated by Polychain Capital, ParaFi Capital, Warburg Serres, Dokia Capital, Draft Ventures, and other investors. Max Chamberlin, co-founder of Bitfinity, stated that the funds were raised in two parts - a seed round of approximately $1 million in 2021 and another round completed in June of last year, both of which were token financing. By the second financing round, Bitfinity's valuation had reached $130 million. Currently, Bitfinity is in the testing phase and plans to launch its mainnet later this month or in early February.