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ICYMI: Arch Labs announced a $13 million raise with the goal of launching a bitcoin virtual machine.
The Series A round was led by Pantera Capital.
“We’re at a pivotal moment—both for Arch and for Bitcoin. Bitcoin has seen massive growth and institutional acceptance, but the mempool tells a different story: Not enough on-chain activity is driving sustained fees for miners,” CEO Matt Mudano told me. “This raise allows us to scale engineering, grow our community and support a new wave of builders. Our focus is on creating a thriving, composable ecosystem of applications that bring real utility to Bitcoin and help secure its future.”
They plan to deploy the capital across three priorities, he added. Scaling the “core engineering team,” ecosystem growth, and “expanding developer adoption.”
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