Bitcoin Project Citrea Raises $14 Million in Series A Funding Round

On Oct. 31, Citrea, a Bitcoin Rollup project, said it had raised $14 million in a Series A funding round led by Peter Thiel's Founders Fund, with participation from angel investors Erik Voorhees and Balaji Srinivasan. Citrea, which raised $2.7 million in seed funding in a round led by Galaxy in February, uses the BitVM computing paradigm, which is designed to allow ethereum-style smart contracts to be used on bitcoin.