Lightning Labs Attracts $ 10 Million Financing and Launches First Paid Product

Leading developer of solutions for the Lightning Network, Lightning Labs, raised Series A funding$ 10 million. The firm also announced a beta release of its first paid product.

</p>

The investment round was led by Craft Ventures, and its managing director Brian Murray said:

&#171;Bitcoin will do for money what it didInternet for communications. Lightning Labs is building the critical infrastructure to make this possible. We are proud to support the Lightning Labs team and community as we move into the next chapter of BTC's story.

Lightning Labs released the first flagshippaid product in beta - Lightning Loop. The solution is designed to help startups, node operators and end users more efficiently send and receive funds on the Lightning network, managing liquidity.

&#171;Using Loop, users can move funds between the Bitcoin blockchain and the Lightning network without restrictions&#187;,— Lightning Labs co-founder Elizabeth Stark explained in a blog post.

Loop will be the first in a series of financial products from the company, she added.

Stark also noted that over the past two years, many startups and projects have appeared in the Lightning Network ecosystem, and Lightning Labs has become an infrastructure provider for them.

Recall that last year Lightning Labs introduced a mobile wallet and a tool for monitoring activity on the Lightning Network.