Based in London Startup for Bitcoin Raises £6.9 Million in Seed Capital

A London-based Bitcoin start-up, Build on Bitcoin (BOB), has closed a £6.9 million (€9.2 million) seed fundraising round led by Castle Island Ventures and supported by various other investors.

The funding will be used to roll out the first Bitcoin Layer-2 (L2) with Ethereum Virtual Machine (EVM) compatibility, aiming to stimulate network innovation and develop a thriving Bitcoin dApp ecosystem.

BOB is positioned as the instrument for DeFi and innovation in all domains of Bitcoin experimentation and use cases, harnessing the advantages of both Ethereum and Bitcoin to lead the path for future Bitcoin innovation.

Top developers like Anduro (by Marathon Digital), Layer Bank, IceCream, and bit_Smiley have announced a major relationship with BOB and chosen to launch their products on its platform, demonstrating the platform's appeal to prominent Bitcoin DeFi technologies.