Hemi is celebrating the close of our latest growth round, a $15 million raise led by YZi Labs (formerly Binance Labs), Republic Digital, and HyperChain Capital. This brings Hemi’s total project funding to $30 million.
The fundraising milestone cements Hemi as the foundational layer for Bitcoin’s integration into an EVM-compatible decentralized finance (DeFi) ecosystem. With industry-leading backers, the raise underscores growing conviction that Bitcoin’s future extends beyond value transfer.
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Despite Bitcoin’s $2.3 trillion market cap, its role in DeFi has remained limited. Developers have long faced a trade-off between Bitcoin’s unmatched security and the programmability of other networks. Hemi eliminates that compromise.
Through the Hemi Virtual Machine (hVM), which features a full Bitcoin node embedded inside an Ethereum Virtual Machine, Hemi fuses Bitcoin’s security with Ethereum’s flexibility. The result? A supernetwork where developers can deploy applications that enable earning, borrowing, trading, and building on Bitcoin while retaining decentralization and security.
Alongside the lead participants, the round attracted support from Breyer Capital, Big Brain Holdings, Crypto.com, DNA Fund, Selini Capital, Protein Capital, Quantstamp, Web3.com, and others. Their participation highlights confidence in Hemi’s role as a critical infrastructure for Bitcoin programmability and cross-chain interoperability.
Hemi already supports more than $1.2 billion in TVL, with over 70 integrated ecosystem partners such as Sushi, LayerZero, MetaMask, and Redstone. Hemi also features 100,000 verified users, and an active community of 400,000 members, demonstrating early traction ahead of the token launch.
The platform’s progress is built on a team with decades of experience in blockchain innovation. Among Hemi’s founding team members are Jeff Garzik, one of Bitcoin’s earliest core developers, Maxwell Sanchez, inventor of the Proof-of-Proof consensus protocol, and Matthew Roszak, crypto pioneer and investor.
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