BOB (Build on Bitcoin), a hybrid Layer 2 project powered by Bitcoin and Ethereum, has raised $1.6 million in a strategic funding round led by Ledger Ventures, including contributions from various angel investors.

Angel round investors include prominent figures from BlackRock, Rarible, Ordinals, Aave, Curve, Threshold, Magic Eden, Mechanism, Injective, Vessel Capital, Babylon, and Centrifuge, according to a press release issued Tuesday.

Of the funds raised, $1 million will be allocated to a BOB incubator to support new startups focused on Bitcoin infrastructure and BOB dapps.

In the release, Ledger Cathay Fund’s Marguerite de Tavernost said BOB combines “the best of Bitcoin with the innovation capabilities of Ethereum, Bitcoin Layer 2s like BOB unlock unprecedented Bitcoin scalability… …