Fiamma—a Bitcoin and ZK infrastructure company transforming Bitcoin into a dynamic and programmable asset—announced an oversubscribed $4M seed round investment led by Lightspeed Faction and L2IV. Additional participating investors include Astera Ventures, Contribution Capital, Sat Ventures, Chapter One, and FoundersHead.
The funding also includes participation from key strategic investors in the Bitcoin infrastructure space, such as BOB (Build on Bitcoin), along with various angel investors, such as the founders of Satlayer and Daedalus.
The company plans to utilize this investment to scale Fiamma’s operations, accelerate product development, and drive adoption of its foundational technologies: Fiamma Bridge, the first trust-minimized Bitcoin bridge, and Fiamma Layer, the first ZK verification layer on Bitcoin powered by BitVM2.
Fiamma’s innovations represent the first implementations of BitVM2, which is a breakthrough that enables Bitcoin to not only scale but also interact with other programmable blockchains in the most trustless way. The company pioneered the development and implementation of the most efficient and smallest verifiers in Bitcoin script (Fflonk and Groth16). This innovation sets up the groundwork for highly optimized ZK verification, with a continued commitment to advancing and refining these verifiers.
Bitcoin’s security and decentralized nature have long been underutilized for real-world applications. And Fiamma’s technology unlocks Bitcoin’s potential to power programmable financial systems, including but not limited to stablecoins, payments, lending platforms, decentralized applications, pragmatically trustless cross-chain interoperability, DeFi protocols, and other innovative use cases—all while maintaining a trust-minimized and secure architecture.
As part of a broader effort, Fiamma is working closely with strategic partners including the ones in the ZK and Bitcoin space. And these collaborations will accelerate innovation and adoption while positioning Bitcoin as the backbone of the decentralized internet and financial systems.
To celebrate this milestone, Fiamma is launching The Mama Code testnet campaign and invites users to engage with the Fiamma Bridge and explore its innovative capabilities. Early adopters can participate and earn rewards.
KEY QUOTES:
“Bitcoin is one of the world’s most valuable assets, yet over 98% of it remains idle. At Fiamma, we’re activating this dormant asset, utilizing it in the most trustless and secure manner. This ushers in a Bitcoin renaissance, seamlessly weaving it into everyday life.”
– Yovela Luo, co-founder and CEO of Fiamma
“With seven years as a ZK enthusiast and inspired by the BitVM paper, we quickly harnessed our expertise to develop the first functional ZK verifiers for Bitcoin.”
– Cyimon Chen, co-founder and CTO of Fiamma
“Trustless bridging infrastructure is needed to maximize the utility and functionality of Bitcoin. Fiamma’s implementation of BitVM2 via its Bitcoin-secured ZK proof verification network paves the way for trustless bridging, scalability and Bitcoin-native applications. We are excited to support the Fiamma team as they strive to refine new opportunities for the Bitcoin ecosystem.”
– Clara Boh at Lightspeed Faction
“Fiamma represents a groundbreaking step forward in bringing additional functionality to Bitcoin. Its unique architectural design seamlessly integrates advanced off-chain computation and verification through BitVM2, unlocking programmability and scalability without compromising Bitcoin’s core security and decentralization principles. By leveraging this innovative framework, Fiamma enables features such as trustless smart contracts and composable DeFi, previously thought unattainable on Bitcoin.”
“The introduction of BitVM2 is particularly transformative—it pushes the boundaries of Bitcoin’s scripting capabilities, allowing for more expressive and flexible execution of decentralized applications. This not only enhances the utility of Bitcoin but also redefines its role within the broader blockchain ecosystem. At L2 Iterative Ventures, we are proud to lead this financing round, recognizing Fiamma as a catalyst for innovation and a pivotal force in reshaping Bitcoin’s future. Their solution positions Bitcoin as a true hub for decentralized applications, making it a cornerstone for the next wave of blockchain adoption.”
– Kevin Lee and Weikeng Chen at L2IV
