Hemi Labs has successfully secured $15 million in funding to develop the Hemi Network, a layer-2 network designed to enhance DeFi applications on Bitcoin and Ethereum. The funding round was led by Breyer Capital and Binance. Co-founded by Jeff Garzik, an early Bitcoin developer, Hemi Labs aims to launch this network on the mainnet by Q4 2024.

Hemi Labs has closed a $15 million funding round led by Breyer Capital and Binance. The company, co-founded by early Bitcoin developer Jeff Garzik, is building Hemi Network, a layer-2 network that supports DeFi applications interacting with both Bitcoin and Ethereum. The funds raised will support the development of the network, which aims to deploy on mainnet in Q4 2024.