Lightning Labs Attracts $ 10 Million Financing and Launches First Paid Product



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Lightning Labs Attracts $ 10 Million Financing and Launches First Paid Product

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Lightning Labs, a leading developer of solutions for the Lightning Network, raised $ 10 million in the A series financing round. The company also announced the release of a beta version of its first paid product.

Lightning Labs is scaling!

Announcing our $ 10M Series A to fuel LN development, and the Lightning Loop beta release, a product making it easier send / receive #bitcoin instantly.

With 4000 developers and 30+ startups, the next decade of Lightning is on 🔥

The investment round was led by Craft Ventures, and its managing director Brian Murray said:

“Bitcoin will do for money what the Internet has done for communications. Lightning Labs builds critical infrastructure to make this possible. We are proud to support the Lightning Labs team and community as we move on to the next chapter in BTC history. ”

#bitcoin will do for money what the internet did for communication. @lightning is building critical infra to make this possible. @ craft_ventures is proud to support @starkness @roasbeef and the entire @lightning team and community as we embark on #bitcoin ‘s next chapter.

Lightning Labs released the first flagship paid product in beta – Lightning Loop. The solution is designed to help startups, node operators and end users more efficiently send and receive funds on the Lightning network, managing liquidity.

“With Loop, users can transfer funds between the Bitcoin blockchain and the Lightning network without restrictions,” Elizabeth Stark, co-founder of Lightning Labs, explained on the blog.

Loop will be the first in a series of financial products from the company, she added.

Stark also noted that over the past two years, many startups and projects have appeared in the Lightning Network ecosystem, and Lightning Labs has become an infrastructure provider for them.

Recall that last year Lightning Labs introduced a mobile wallet and a tool for monitoring activity on the Lightning Network.

Lightning Labs Attracts $ 10 Million Financing and Launches First Paid Product



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