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Initia has completed a $14 million Series A funding round, with a valuation of $350 million.

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Sep 25, 2024

Initia announced the completion of a $14 million Series A funding round, with the company's fully diluted token valuation reaching $350 million. The round was led by Theory Ventures, headed by Tomasz Tunguz, with participation from Delphi Ventures and Hack VC. Initia is developing a Layer 1 blockchain and its "interwoven optimistic rollup" system, with plans to launch the mainnet and tokens within the next two months. To date, Initia's total funding has reached $22.50 million, which includes a $7.50 million seed round earlier this year and a pre-seed investment from Binance Labs. (TheBlock)

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