Initia Secures $7.5 Million in Funding for Blockchain Infrastructure Startup
Blockchain infrastructure startup Initia has recently announced that it has secured $7.5 million in funding for its testnet, which is set to launch in Q1 2024. The funding round was co-led by Delphi Ventures and Hack VC, with participation from investors such as Nascent and Figment Capital.
The Details of the Funding Round
- Initia has raised $7.5 million in seed financing for its testnet.
- The funding round was co-led by Delphi Ventures and Hack VC.
- Other investors, including Nascent and Figment Capital, have also participated in the funding.
- The details of the funding round have not been publicly disclosed, but reports suggest that it was a SAFE agreement with a token warrant.
The Initia Vested Interest Program
Initia has developed the Initia Vested Interest Program framework, which aims to distribute native INIT rewards and align the interests of users and developers. With this program, Initia intends to eliminate barriers to entry for users and liquidity while providing a unified user experience for navigating various rollups.
Building the “Apple App Store” for Crypto
Initia, founded by former developers from Terra and Cosmos, aims to create an ecosystem similar to the Apple App Store but for cryptocurrencies. The goal is to make it easier for thousands of users to access crypto applications seamlessly. According to Stan Liu, co-founder of Initia, the company wants to eliminate the need for multiple tokenized altcoins that arise on Ethereum due to bridges and protocols.
About Initia
- Initia is a blockchain infrastructure startup based in Singapore.
- The company currently has 20 team members located worldwide.
Hot Take: Initia Raises $7.5 Million to Revolutionize Blockchain Infrastructure
Initia’s recent funding round of $7.5 million marks a significant milestone for the blockchain infrastructure startup. With the support of investors such as Delphi Ventures and Hack VC, Initia is well-positioned to develop its testnet and bring its vision of a unified user experience for navigating crypto applications to life.
The Initia Vested Interest Program, designed to distribute native INIT rewards and align the interests of users and developers, shows the company’s commitment to creating an inclusive and accessible ecosystem. By eliminating barriers to entry and streamlining the process of accessing crypto applications, Initia aims to make it easier for thousands of users to participate in the crypto space.
As Initia continues its mission to build the “Apple App Store” for cryptocurrencies, it is clear that the company has ambitious goals in mind. By leveraging its expertise and experience in blockchain development, Initia has the potential to revolutionize the way we interact with crypto applications and simplify the user experience.
With this new funding secured, Initia is poised for success as it moves forward with its plans for a Q1 2024 testnet launch. As a crypto enthusiast, you can look forward to a future where accessing and using crypto applications is as seamless as using your favorite apps on your smartphone.
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