Omega: $6 Million Raised To Enable Users In Leveraging Cross-Chain Digital Assets

By Annie Baker ● Feb 10, 2024

Omega announced it had closed a $6 million funding round, marking a major milestone in its quest to integrate native Bitcoin into the decentralized finance (DeFi) landscape. This funding was spread across three investment rounds, featuring contributions from an impressive roster of participants including Lightspeed Faction, Borderless Capital, Wormhole Cross-Chain Ecosystem Fund (operated by Borderless Capital), Bankless Ventures, Wave Digital, Blockchain.com, Blockchain Founders Fund, Kronos Ventures, XTBO Humla, Cadenza, Psalion Ventures, AlphaLab Capital, Side Door Ventures, and MH Ventures, and others.

The funds are earmarked for developing and launching a pioneering decentralized platform designed to empower Bitcoin owners to unlock the yield-generating potential of their Layer 1 Bitcoin assets. And with plans to unveil its public beta soon, Omega is on track to redefine the utility of Bitcoin within the DeFi ecosystem, offering unprecedented opportunities for yield generation.

Omega is committed in driving the next wave of advancements in Bitcoin DeFi and this funding round positions the project for significant adoption in the coming months.

KEY QUOTES:

“We’re thrilled to have the backing of our respected investment partners. This financial and adviosry support enables us to further our quest in expanding the horizons of Bitcoin DeFi.”

– Wes Cowan, Co-Founder and CEO of Omega

“We are delighted to be part of Omega’s journey as they pave the way for unlocking the true potential of Bitcoin in DeFi. This investment underlines our belief in Omega’s team and their vision to revolutionize yield generation for Bitcoin holders, and we eagerly anticipate the impact of their work on the future of decentralized finance.”

– Aly Madhavji, Managing Partner at Blockchain Founders Fund

“This funding achievement affirms our mission to revolutionize the DeFi domain,” he remarked. “We’re now poised to launch our public beta, an important step toward empowering Bitcoin investors and driving significant advancements in the Bitcoin DeFi arena.”

– Eric Ryklin, Co-Founder and COO of Omega