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Fiamma Announces $4M Seed Round Led By Lightspeed Faction and L2 Iterative Ventures

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Investment Will be Leveraged to Revolutionize Bitcoin with Trust-Minimized and ZK Infrastructure Solutions

SINGAPORE, Dec. 4, 2024 /PRNewswire/ — Fiamma, a Bitcoin and ZK infrastructure company transforming Bitcoin into a dynamic and programmable asset, today announced an oversubscribed $4M seed round investment led by Lightspeed Faction and L2IV. Additional participating investors include Astera Ventures, Contribution Capital, Sat Ventures, Chapter One, and FoundersHead. The investment also includes participation from key strategic investors in the Bitcoin infrastructure space, such as BOB (Build on Bitcoin), alongside various angel investors such as the founders of Satlayer and Daedalus.

The company plans to utilize this investment to scale Fiamma’s operations, accelerate product development, and drive adoption of its foundational technologies; Fiamma Bridge, the first trust-minimized Bitcoin bridge, and Fiamma Layer, the first ZK verification layer on Bitcoin powered by BitVM2.

Yovela Luo, co-founder and CEO of Fiamma, states: “Bitcoin is one of the world’s most valuable assets, yet over 98% of it remains idle. At Fiamma, we’re activating this dormant asset, utilizing it in the most trustless and secure manner. This ushers in a Bitcoin renaissance, seamlessly weaving it into everyday life.”

Fiamma’s innovations represent the first implementations of BitVM2, a breakthrough that enables Bitcoin to not only scale but also interact with other programmable blockchains in the most trustless way. The company pioneered the development and implementation of the most efficient and smallest verifiers in Bitcoin script (Fflonk and Groth16). This innovation lays the groundwork for highly optimized ZK verification, with a continued commitment to advancing and refining these verifiers.

Cyimon Chen, co-founder and CTO of Fiamma, remarks: “With seven years as a ZK enthusiast and inspired by the BitVM paper, we quickly harnessed our expertise to develop the first functional ZK verifiers for Bitcoin.”

Bitcoin‘s unmatched security and decentralized nature have long been underutilized for real-world applications. Fiamma’s groundbreaking technology unlocks Bitcoin‘s potential to power programmable financial systems, including but not limited to stablecoins, payments, lending platforms, decentralized applications, pragmatically trustless cross-chain interoperability, DeFi protocols, and other innovative use cases—all while maintaining a trust-minimized and secure architecture.

As part of a broader ecosystem effort, Fiamma is working closely with strategic partners including the ones in the ZK and Bitcoin space. These collaborations will accelerate innovation and adoption while positioning Bitcoin as the backbone of the decentralized internet and financial systems. To celebrate this milestone, Fiamma is launching The Mama Code testnet campaign, inviting users to engage with the Fiamma Bridge and explore its innovative capabilities. Early adopters can participate and earn rewards.

Investor Quotes

Clara Boh at Lightspeed Faction, said “trustless bridging infrastructure is needed to maximize the utility and functionality of Bitcoin. Fiamma’s implementation of BitVM2 via its Bitcoin-secured ZK proof verification network paves the way for trustless bridging, scalability and Bitcoin-native applications. We are excited to support the Fiamma team as they strive to refine new opportunities for the Bitcoin ecosystem.”

Kevin Lee and Weikeng Chen at L2IV, added “Fiamma represents a groundbreaking step forward in bringing additional functionality to Bitcoin. Its unique architectural design seamlessly integrates advanced off-chain computation and verification through BitVM2, unlocking programmability and scalability without compromising Bitcoin‘s core security and decentralization principles. By leveraging this innovative framework, Fiamma enables features such as trustless smart contracts and composable DeFi, previously thought unattainable on Bitcoin.

The introduction of BitVM2 is particularly transformative—it pushes the boundaries of Bitcoin‘s scripting capabilities, allowing for more expressive and flexible execution of decentralized applications. This not only enhances the utility of Bitcoin but also redefines its role within the broader blockchain ecosystem. At L2 Iterative Ventures, we are proud to lead this financing round, recognizing Fiamma as a catalyst for innovation and a pivotal force in reshaping Bitcoin‘s future. Their solution positions Bitcoin as a true hub for decentralized applications, making it a cornerstone for the next wave of blockchain adoption.”

About Fiamma
Fiamma is unlocking real-world use cases for Bitcoin, transforming it into a dynamic asset and the foundation for a decentralized internet and financial system. Backed by Lightspeed Faction and L2IV, Fiamma leads innovation with the Fiamma Bridge and Fiamma Layer, the first products to implement BitVM2. These foundational technologies are just the beginning, as Fiamma continues to develop protocols that expand Bitcoin‘s potential across programmable blockchains and real-world applications.

For more information, visit fiammachain.io or follow us on Twitter.

Contact:

faction@mgroupsc.com

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Omdia: Small medium OLED shipment to hit 1 billion units for the first time in 2025

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LONDON, Dec. 4, 2024 /PRNewswire/ — New data from Omdia has revealed that OLED (Organic Light-Emitting Diode) technology, which began with small displays under 10 inches two decades ago, is set to reach new heights in 2025. With advancements in technology, capacity and cost, OLED is poised for significant growth. Over the years, OLED has outperformed LCD displays in key areas such as color saturation, slimness, weight, flexibility and contrast. These advantages have accelerated the transition from LCD to OLED, particularly as production scales expand, especially in China.

According to Omdia’s latest OLED Display Market Tracker, small to medium OLED shipments are expected to surpass one billion units for the first time. The milestone includes displays ranging from 1-inch to 8-inch, covering a wide array of applications such as game consoles, AR/VR/MR headsets, near eyeglasses and head-mount displays, automotive displays, smartphones, sub displays, smartwatches and industrial displays.

OLED technology has seen significant growth in the smartphone market, driven by China OLED makers such as BOE, ChinaStar, EverDisplay, Visionox and Tianma as along with the vast technological advancements from Korean giants Samsung Display and LG Display. Additionally, OLED displays are expanding into the new applications including AR/VR and automotive displays.

David Hsieh, Senior Research Director, Displays in Omdia highlights, “Despite its higher cost and more complex manufacturing, OLED has proven ideal for small to medium displays due to its slim design, lightweight, excellent picture quality, efficient power consumption and flexibility. Beyond replacing TFT LCDs in these applications, OLED enables  innovative form factors like ultra-lightweight and foldable designs. Shipments of small to medium OLED display are projected to peak 1 billion units in 2025.”

Conversely, display manufacturers are refining OLED production processes while scaling up capacity scale with innovations such as Gen8.6 fabs, LTPO+ backplane, COE, fingerprint-on-display technology, under display cameras, hybrid OLEDs, Tandem RGB OLEDs, mask-less OLED photolithographic deposition and ink jet printing. These new developments aim to elevate OLED’s value proposition beyond mere volume growth.

Hsieh added, “However, new players are beginning to challenge the dominance of OLED. Samsung Display and LG Display have introduced stretchable Micro LED displays, while display manufacturers like AUO and Tianma are initiating mass production of small to medium Micro LED displays, supported by gradual improvements in cost and product readiness. After reaching its peak, small to medium OLED displays are expected to enjoy a golden era lasting for decades, though they may eventually be overshadowed by the emergence of Micro LED Display.”

ABOUT OMDIA
Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Contact: Fasiha Khan / fasiha.khan@omdia.com

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Delta Force New First-Person Shooter from the Team Behind Call of Duty: Mobile Now Available

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Free to Play PC Multiplayer Campaign Now Available on Steam; iOS, Android and Google Play Games on PC Launches Jan. 20; Black Hawk Down Campaign Follows Shortly After  

LOS ANGELES, Dec. 5, 2024 /PRNewswire/ — Mission launch! Team Jade today released their highly-anticipated multiplayer Open Beta for first-person tactical shooter Delta Force. Following a successful Steam Next Fest reception, where Delta Force was the 4th most wishlisted title and topped all three Steam Next Fest charts, Team Jade is excited to bring more expanded content such as new weapons and Operators, unique maps, engaging missions and more to the multiplayer campaign. 

 

Watch the Black Hawk Down Teaser Now

“The entire team at Team Jade is proud to release our vision for Delta Force upon the world,” said Shadow Guo, Game Director of Delta Force. “We’re truly excited to jump in with gamers across the globe in this exciting new shooter, who we hope will have as much fun playing the game as we had making it.”

Available at launch with Season Genesis, Delta Force will feature a diverse roster of multiplayer modes, a deep and customizable weapons arsenal, top notch graphics and more. An action-packed single-player/co-op campaign will be arriving in January of 2025. Furthermore, Delta Force will be available on the App Store, Google Play Store, and Google Play Games on PC January 20, 2025 with pre-registration begins today.

Get Delta Force Now

The PC Open Beta includes both multiplayer modes, including:

Warfare: A 32v32 player game mode where teams battle across massive maps of authentic terrain, utilizing a range of authentic and satisfying weapons and equipment, as well as military vehicles such as tanks and aircraft, to take on the enemy across the large objective-laden battlefields.Operations: Form a squad of three to take on rival teams and marauding AI-controlled mercenaries. Random events across huge mission-based maps will keep players on their toes, as they work together through PvE-focused missions full of valuable loot. 

For more information about Delta Force visit our official website and YouTube channel, with additional updates found on X, Facebook, Instagram, and TikTok.

About Delta Force

Delta Force is the upcoming free-to-play tactical shooter that is the next installment of the beloved Delta Force series, which will feature large-scale multiplayer modes, as well as an action-packed single-player/co-op campaign, a deep weapons arsenal for customization, and more. Delta Force PC Open Beta launches on December 5th and players can join the fray by getting the game for free via its website, Steam and Epic Games Store pages. Players can now also pre-register on the App Store, Google Play Store, and Google Play Games on PC for the January 20, 2025 launch.

About Team Jade

Team Jade is a notable branch of TiMi Studio Group renowned for Call of Duty: Mobile and Assault Fire, the latter being the most popular Chinese shooter game on PC for the past decade. With a roster of hundreds of industry veterans, the team has garnered multiple prestigious accolades, including BAFTA and TGA awards.

Video – https://www.youtube.com/watch?v=bLim7pmoAZc 

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Korea Legal Industry Veteran Robert Surh Joins TransPerfect Legal

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NEW YORK and SEOUL, South Korea, Dec. 4, 2024 /PRNewswire/ — TransPerfect Legal, the global leader in legal technology, AI, and advisory services, today announced the hiring of Robert Surh as a Director in the company’s APAC region. Based in Seoul, Surh’s addition strengthens TransPerfect Legal’s presence in Korea and underscores its commitment to the region.

In his new position, Surh will take responsibility for the growth of TransPerfect Legal’s technology, services, and advisory offerings across Asia, with a particular emphasis on South Korea and neighboring markets. With over two decades of experience spanning litigation, corporate law, forensic consulting, and global account management, Surh’s expertise will have an immediate positive impact on clients.

Surh began his career as a US-licensed attorney, where he gained first-hand litigation experience. He honed his skills at prestigious law firms, managing complex federal and state commercial class action and mass tort cases. He later transitioned to corporate law, where he held the role of General Manager of Foreign Litigation at LG Electronics and Chief Legal Counsel of Foreign Legal Affairs at E.Land World Co., Ltd. Surh also served as Head Counsel and Director at Deloitte Anjin, LLC, followed by a Director role at AlixPartners, which further expanded his consulting and advisory skills.

Surh commented, “As a leader in legal technology, digital forensics, and language services, TransPerfect’s cross-border value proposition is the best there is, particularly in APAC where language and regulations can differ dramatically. I am excited to join the growing team and continue TransPerfect Legal’s expansion across the Asia-Pacific region.”

TransPerfect President and Co-CEO Phil Shawe stated, “It is my honor to welcome Robert Surh to the TransPerfect team. Our clients in Korea, and throughout all of APAC, will benefit greatly from his experience and expertise.”

About TransPerfect Legal
TransPerfect Legal is a global leader in legal technology, AI, and advisory services for Am Law 200 and Global 100 law firms as well as corporate legal departments. With offices in more than 140 cities worldwide, solutions include forensic technology and consultingeDiscovery and early data assessmentmanaged review and legal staffinglanguage servicesdeposition and trial support, and paper discovery, all offered alongside the Reef Technology ecosystem, TransPerfect Legal’s suite of proprietary applications that address the needs of legal and regulatory practitioners around the world. For more information, please visit www.transperfectlegal.com.

About TransPerfect
TransPerfect is the world’s largest provider of language services and AI solutions for global business. From offices in over 140 cities on six continents, TransPerfect offers a full range of services in 200+ languages to clients worldwide. More than 6,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify the management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.

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