ChainCatcher news, reported by Chainwire, Bitcoin infrastructure company Arch Labs has completed a $13 million Series A funding round, with a valuation of $200 million. This round was led by Pantera Capital.The funding will be used to accelerate the development and launch of the ArchVM virtual machine to enable smart contract functionality on Bitcoin. ArchVM will bring features such as programmable multi-signatures, cross-program calls, and inter-application composability to Bitcoin, allowing decentralized applications and protocols to run natively within the Bitcoin ecosystem. The project has processed over 50 million transactions on the testnet and plans to launch the mainnet this summer.Previously, Arch Labs raised $7 million in funding led by Multicoin Capital, with participation from institutions such as OKX Ventures and Portal Ventures.