Hemi Labs Funding Announcement

Hemi Labs has successfully raised $15 million to launch the Hemi Network, a modular blockchain network supported by both Bitcoin and Ethereum.

The funding round was led by Binance Labs, Breyer Capital, and Big Brain Holdings. Additional backers include Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, and Cypher Capital.

Hemi Network Features

• Hemi Virtual Machine: Enables developers to create smart contracts that are compatible with both Bitcoin and Ethereum.
• Hemi Bitcoin Kit: Allows users to develop staking, MEV marketplaces, and other Bitcoin-native applications by accessing the granular Bitcoin state.

The firm has launched an incentivized testnet for the Hemi Network and plans to release its mainnet in the fourth quarter of this year.

Sam Kim, Managing Partner at Big Brain Holdings, stated, “Hemi is transforming how Bitcoin and Ethereum interact, not merely providing a bridge between the two largest networks in the blockchain ecosystem, but a supernetwork that most elegantly marries the capabilities of both.”