British Crypto Startup BOB Secures €8.1 Million Funding

The platform is designed to let users earn yield on native Bitcoin (BTC) without relying on custodians or wrapped tokens.

The latest round brought in new investors like Anchorage, Amber Group, and Sats Ventures. It also saw increased support from existing backers, including Castle Island Ventures—who led BOB’s earlier €8.6 million seed round—as well as Ledger, RockawayX, Asymmetric, IOSG Ventures, UTXO Management, Daedalus, CMS, Bankless Ventures, Hypersphere, Alliance, and Sigil/Zeeprime.

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This follows an earlier €1.3 million angel round raised in early 2023 from undisclosed crypto-native investors.

In total, BOB has now secured €18 million across multiple funding rounds since December 2024.

Alexei Zamyatin, BOB Co-founder and BitVM Core Contributor, said: “The fact that we continue to attract new partners and so many of our original investors have doubled down speaks volumes to the work our team has done to define Bitcoin’s central role in DeFi. With the string of recent developments and tier 1 partners choosing BOB to support their Bitcoin strategies, we’re demonstrating what’s possible with BOB’s unique Hybrid model, bringing together the strengths of Bitcoin and Ethereum to redefine Bitcoin’s role in DeFi.”

The newly raised funds will help speed up the development of BOB’s hybrid chain, grow ecosystem partnerships, and support adoption by institutional players.

BOB positions itself as the “Gateway to Bitcoin DeFi,” aiming to be the safest and easiest way to earn with Bitcoin. Its unique hybrid chain blends the security of Bitcoin with the flexibility of Ethereum. Apps, assets, and transactions are backed by billions in staked BTC, and BTC-secured bridges will allow users to earn yield across multiple blockchains.

BOB recently launched native Bitcoin DeFi on its testnet, supported by leading partners like Lombard, Amber Digital, and RockawayX. Using its BitVM bridge, BOB will bring real BTC—not wrapped versions—into its DeFi ecosystem at mainnet launch.

The company also introduced the first hybrid ZK rollup, using zero-knowledge tech to reduce costs and boost efficiency for optimistic rollups. With Fireblocks integration, BOB enhances secure access for institutions looking to tap into Bitcoin DeFi.

Nic Carter, Founding Partner at Castle Island Ventures, said: “We believe in the enormous potential of Bitcoin DeFi and see BitVM as the best path forward for trustless BTC deposits and withdrawals. BOB is the only Layer 2 implementing both BitVM for trustless deposits and Bitcoin finality via staked Bitcoin for Bitcoin-secured DeFi transactions. We’re excited to increase our investment and support BOB’s mission to build the gateway to Bitcoin DeFi.”

The startup is currently updating its public materials, such as its LinkedIn page and team profiles, as it gets ready for increased visibility ahead of its mainnet launch.

About BOB

Founded in 2024, BOB is a crypto startup with a distributed team across Europe and North America. After staying under the radar during its research and development phase, the company is now stepping into the spotlight as it nears its mainnet launch.