Omega Announces $6M Funding Round

Omega secures $6M to launch a groundbreaking DeFi platform for Bitcoin yield generation, backed by top investors, setting a new course in crypto finance.
February 6, 2024

Today, Omega announced the successful completion of a $ 6 million funding round, solidifying its position as a pioneer in bringing native Bitcoin to the DeFi ecosystem. The funding was secured through three rounds of investment with participation from Lightspeed Faction, Borderless Capital, Bankless Ventures, Wave Digital,, Blockchain Founders Fund, Kronos Ventures, XTBO Humla, Cadenza, Psalion Ventures, AlphaLab Capital, Side Door Ventures, MH Ventures, and others.

The funding will be leveraged to launch the first decentralized infrastructure that enables Bitcoin holders to utilize the value of their Layer 1 Bitcoin for yield generation. Omega expects to launch its public beta within the next 60 days.

Wes Cowan, Co-Founder and CEO of Omega said this about the funding round:

"We are excited to announce our funding from our esteemed investment partners," "This funding will allow Omega to continue our mission to push the boundaries of Bitcoin DeFi."

David Hoffman, General Partner of Bankless Ventures, shared:

“We are thrilled to be part of Omega’s funding round. Their forward-thinking approach to revolutionizing Bitcoin utility within the DeFi ecosystem aligns with our vision for the future of decentralized finance. Omega’s commitment to innovation makes this investment an exciting opportunity for us to be part of another giant leap in what is possible for Bitcoin.”

Phillipe Bekhazi, CEO of XBTO, added:

“Omega’s innovative protocol for Bitcoin yield generation caught our attention for its unique value proposition. This funding signifies not only a strong endorsement from the investment community but also a belief in the team’s ability to forge new paths in the burgeoning DeFi economy. We look forward to witnessing the impact of this strategic investment on Omega’s continued success.”

Eric Ryklin, Co-Founder and COO of Omega had this to say:

“I am immensely proud of our team's unwavering dedication and innovative spirit,"  "Our funding rounds are not just a financial milestone, but a testament to our vision of reshaping the DeFi landscape. Our focus now turns to delivering our public beta, which we believe will empower Bitcoin holders and significantly contribute to the evolution of Bitcoin DeFi."

Omega is committed to driving the next wave of advancements in Bitcoin DeFi, and this funding milestone positions the project for significant adoption in the coming months. MH Ventures is incredibly excited to join the team in their journey and see all the things they achieve.

About Omega is a Web3 infrastructure provider enabling the collateralization of idle bitcoin for  yield generation in DeFi.