dlcBTC Completes $2Mn Pre-Seed Investment Round

Following the collapse of major players like FTX, Celsius, Voyager, 3AC, and BlockFi, fundraising for crypto protocols plummeted over 70%.

In this challenging climate, dlcBTC has successfully raised $2Mn in a pre-seed round, showcasing the strength of our technology, team, and vision.

Investors

Our pre-seed round was co-led by ABCDE Capital, founded by the co-founder of Huobi, and Comma 3 Ventures. DeFi funds Bixin, Contribution Capital, and AlphaDAO, and consulting firm DeSpread also invested.

On the Bitcoin side, we secured investment from New Layer Capital, SBX, Gossamer, and Waterdrip Capital, known for their Bitcoin mining expertise.

Strategic contributions came from Trust Machines, Chainlink and Stacks Foundation. Chainlink was our first investor via their Foundation's grant program, and Stacks Foundation awarded us their inaugural Partner-level grant.

Angel investors include Charlie Songhurst (Bitcoin whale and super-angel), Matt Barby (DeFi expert and podcaster), Saeed Al-Zaabi (formerly Director at the General Secretariat of Abu Dhabi) and Kieran Flanagan (CMO of Zapier), who invested through Sequoia Scout.

Furthermore, a number of accelerator programs have supported our growth, including Chainlink for Startups, Bitcoin Frontier Fund, Creative Destruction Lab, GSD Ventures and Interchain Builders.

About dlcBTC

As a decentralized wrapped Bitcoin, dlcBTC leverages Discreet Log Contracts (DLCs) and Chainlink's Cross-Chain Interoperability Protocol (CCIP) to provide a theft-proof bridge to cross-chain DeFi, backed by the security of the Bitcoin network. dlcBTC unlocks yield for your Bitcoin in DeFi with the benefit of lower fees and merchant self-custody, empowering users to put their Bitcoin to work.

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