Lightning Labs raises $ 10M to improve Bitcoin technology

Lightning Labs, a company that focuses on the development and adoption of Lightning Network for Bitcoin, collected $ 10 million to improve its solutions.

Directed by Craft Ventures, the $ 10 million financing round of Lightning Labs also attracted Ribbit Capital, TPP, M13, Slow and other investors.

On his blog, Elizabeth Stark, CEO and co-founder of Lightning Labs, said it was an important step to further develop its payment technology and evolve the ecosystem of Bitcoin developers.

I am grateful because we have partnered with really great investors, ”she said.

Earlier last year, the startup announced the deployment of an alpha version of its desktop application Lightning on the mainnet network of Bitcoin, as well as the arrival of a canal emptying solution called Lightning Loop.

Today, she finally marketed Lightning Loop in beta. It is also its first paid product.

Loop helps startups, node operators and end users to send and receive on Lightning more efficiently. With Loop, users can transfer funds between the Bitcoin blockchain and the Lightning network in a non-conservative manner, "said Stark.

Following the release of its scaling solution Ind for Bitcoin, more and more startups, like Bitrefill, fold, OpenNode, Moon, have started to operate the Lightning network to improve their service and in particular to reduce transaction costs for micropayments.

The Lightning Network (LN) is a blockchain overlay Bitcoin allowing transactions to be carried out more quickly and cheaply, without overloading the main network.

This autumn, AT FIVE, a French startup that also focuses on the development of the Lightning Network, has raised $ 8 million.