According to BlockBeats, on September 25, TechCrunch reported that about 90% of Initia’s $14 million Series A funding ($12 million) came from Tunguz’s Theory Ventures investment. The new round of financing brings Initia’s total financing to $22.5 million.
BlockBeats previously reported that Layer 1 blockchain Initia announced the completion of a $7.5 million financing in February 2024, a round of financing led by Delphi Ventures and Hack VC, with participation from Nascent, Figment Capital, Big Brain and A.Capital. The project also received funding from Binance Labs in the pre-seed round of financing.