Hemi Labs Raises $15M To Launch Modular Blockchain Network

Key points:

• Binance Labs, Breyer Capital, and Big Brain Holdings led the round.
• Hemi Labs develops the Hemi Network, a Bitcoin- and Ethereum-powered modular network.

Hemi Labs raises $15M to launch Hemi Network, a modular blockchain connecting Bitcoin and Ethereum, with features like smart contracts and Bitcoin-native applications.

Hemi Labs Raises $15M to Develop Modular Blockchain Network

Hemi Labs has raised $15 million in funding from major investors, including Binance Labs and Breyer Capital, to launch the Hemi Network. The modular blockchain aims to integrate both Bitcoin and Ethereum, giving developers the ability to build Bitcoin- and Ethereum-compatible smart contracts via the Hemi Virtual Machine, according to a company release.

With the Hemi Bitcoin Kit, users can create staking systems, MEV markets, and Bitcoin-native applications with direct access to the detailed state of Bitcoin. The network’s incentivized testnet is already live, with a planned mainnet launch in Q4 of this year, marking a major step forward in advancing inter-network functionality.

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Hemi Labs’ $15M Raise Powers Bitcoin-Ethereum Supernetwork

Hemi Labs’ $15 million funding round aims to build a blockchain “supernetwork” connecting Bitcoin and Ethereum, backed by industry giants like Binance Labs. Hemi Network allows developers to create cross-compatible smart contracts and introduces new features like staking and MEV markets through its Bitcoin Kit.

Hemi Network’s incentivized testnet is already live, and the company is preparing to launch its mainnet later this year, which will enable even more seamless interoperability between the two largest blockchain ecosystems.