Bitcoin Layer 2 network Bitfinity completes a $7 million token financing at a valuation of $130 million, with participation from Polychain Capital and others

ChainCatcher news, according to The Block, the Bitcoin Layer 2 network Bitfinity based on Internet Computer has completed a $7 million financing round at a valuation of $130 million, with participation from Polychain Capital, ParaFi Capital, Warburg Serres, Dokia Capital, and Draft Ventures.

Bitfinity co-founder Max Chamberlin stated that the funding was achieved in two parts—approximately $1 million in a seed round in 2021, and another round completed last June, both of which were token financings. By the time of the second financing, Bitfinity's valuation had reached $130 million. Currently, Bitfinity is in the testnet phase and plans to launch its mainnet later this month or in early February.