Solv Protocol, a Bitcoin staking platform, raised USD 11 million in new funding led by Nomura subsidiary Laser Digital, with participation from Blockchain Capital, OKX Ventures, and others. This round brings the company's total funding to USD 25 million and gives it a valuation of USD 200 million.

The company plans to use the funding to expand support for its platform across multiple blockchains and develop new features to improve user experience and staking efficiency. Moreover, it plans to expand to new geographical regions with high Bitcoin adoption and continue investing in its security infrastructure.

Analyst QuickTake: The Bitcoin-based DeFi space has seen a large influx in investor interest, with several startups raising funding. Solv joins the likes of Corn , Bitlayer , Arch Labs , ZKM , and Botanix Labs , which raised USD 6.7 million , USD 9 million , USD 7 million , USD 5 million , and USD 8.5 million , respectively, within the last four months. Notably, this round marks the company's first fundraise since it pivoted from being an asset tokenization platform to a Bitcoin-centric DeFi services platform earlier this year .