Bitcoin Development Platform Tap Protocol Secures $4.2 Million in Funding
Bitcoin Ordinals-based development platform Tap Protocol has raised over $4 million in an oversubscribed round, promising more “big” news to come.
“We are happy to announce our successful fund raise of $4.2m which was oversubscribed by $13m+,” Tap Protocol said on Twitter.
The round was led by Sora Ventures, with participation from Rw3, Cypher Capital, Kosmos Ventures, Oak Grove Capital, Petrock Capital, New Tribe Capital, Cogitent Ventures, Compute Ventures, MSA Novo, and Skry Labs.
It also included angel investments from executives at Animoca Brands and Quantstamp.
Oak Grove commented that “Tap Protocol’s innovative approach, combined with Trac Systems’ impressive growth, aligns with our vision for driving forward the evolution of the blockchain ecosystem.”
We are happy to announce our successful fund raise of $4.2m which was oversubscribed by $13m+.
Big thanks to our incubator @Skrylabs throughout as well as lead investor @sora_ventures for their support.
With this, we open a new chapter on further development and look forward… pic.twitter.com/2oiGtbEKkK
— Tap Protocol (@tap_protocol) December 16, 2023
According to the protocol, “with this, we open a new chapter on further development and look forward everything new to be added to TAP and TRAC.”
However, it also noted that more “big announcements” would arrive in the coming days and weeks.
German-based company Trac Systems is the parent company of Tap Protocol. It stated it would utilize the raised money to develop Bitcoin capabilities as a developer platform leveraging the Ordinals system.
The plans reach into decentralized finance (DeFi), tokenization, and gamification.
Benny the Dev, CEO of Trac Systems, was quoted as saying that,
“Now that the fundraise has successfully
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