Babylon Labs raised $15 million in funding from a16z Crypto.

Babylon Labs raised $15 million in funding from the a16z Crypto investment firm. This investment was made by purchasing the BABY token. The raised capital will be used to develop and scale Babylon's Trustless Bitcoin Vaults infrastructure.

Following the investment news, the value of the BABY token increased by 13%. This situation heightened investor interest in the project and had a positive effect on the markets.