PANews reported on April 22 that Bitcoin infrastructure company Arch Labs has completed a $13 million Series A financing round, with a valuation of $200 million. This round of financing was led by Pantera Capital, with other strategic investors also participating. This funding will accelerate the development and release of ArchVM, which can realize fast, secure and fully verifiable smart contract functions on Bitcoin.

According to reports, Arch Labs is a software development company and a core contributor to Arch Network. Arch Network is a bridgeless execution platform that can implement smart contract-like functions on Bitcoin. Previously, Arch Labs raised $7 million, led by Multicoin Capital.