Cryptocurrency startup Arch Labs has raised a significant $13 million in funding to develop the technology behind more sophisticated smart contracts on the Bitcoin blockchain. This investment will fuel the development of an innovative platform, ArchVM, which will enable the creation of complex and efficient smart contracts on Bitcoin. The funding comes at a time when demand for decentralized finance (DeFi) solutions is surging, and this could revolutionize how applications utilize the security and stability of the Bitcoin network. Notably, the investment round has valued Arch Labs at $200 million and attracted prominent investors such as Pantera Capital and Multicoin Capital, who are known for their expertise in blockchain technology.