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Initia - Seed
Overview
Funding Date
February 27, 2024
Financing amount
$7.5M
Valuation
--
Catagory
About Initia - Seed
A group of former Terra and Cosmos developers raised $7.5 million for a blockchain platform called Initia that is natively designed to support many Layer 2 networks. The funding round was co-led by Delphi Ventures and Hack VC, with participation from Nascent, Figment Capital, Big Brain and A.Capital. Angels included pseudonymous crypto traders Cobie, DCF GOD, Split Capital co-founder Zaheer Ebtikar, Fiskantes and WSB Mod. Celestia COO Nick White also participated. The round was a SAFE agreement with a token warrant. The team declined to comment on the specific valuation but said it was in the low nine-figure range.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Corporate | United States of America | 2018 | 12 | -- | ||
| Fund | United States of America | 2017 | 54 | ed@hack-vc.com | ||
| Fund | United States of America | 2020 | 52 | hello@nascent.xyz | ||
| Fund | United States of America | 2018 | 37 | -- | ||
| Fund | United States of America | -- | 113 | -- | ||
| Corporate | United States of America | 2014 | 7 | -- | ||
| Angel Investor | -- | -- | 4 | -- | ||
| Angel Investor | Unknown | -- | 7 | -- | ||
| Angel Investor | -- | -- | 5 | -- | ||
| Angel Investor | United States of America | -- | 1 | -- |
Company Profile / Project Introduction
Initia is a network for 0-to-1 omnichain rollups built by fusing a novel L1 with an interwoven application-specific L2 infrastructure system. The Initia Platform provides product ready rollups that enables teams to build scalable and sovereign systems while eliminating the UX complexities end users face when interacting with a modular multi-chain universe. Initia’s ownership of the full tech stack allows for a suite of chain-level mechanisms that align the economic interests across users, developers, L2 app chains, and the L1.