Initia Completes $14 Million Series A Funding, Led by Theory Ventures

According to official news, the Rollup interoperability protocol Initia announced the completion of a $14 million Series A financing round, led by Theory Ventures, with participation from Delphi Ventures, Hack VC, and angel investors such as Bryan Pellegrino, NoSleepJon, Jordi Alexander, Zaki Manion, Keone Hon, 0x Cygaar, Guy Young, Icebergy, Chainyoda, and Michael Egorov. After completing this round of financing, Initia's total financing amount reached $22.5 million, including seed round investments from Delphi Ventures and HackVC and pre-seed round investments from Binance Labs. It is reported that Initia is an Interwoven Rollup network that plans to build a multi-chain system based on Initia L1 and various Interwoven L2s, covering multiple aspects such as architecture, products, and economy. Recently, Initia acquired Celatone and the team behind it, Alles Labs. Celatone is a blockchain browser company that provides browser services for Sei, Osmosis, Neutron, Initia and all Interwoven Rollup L2. Initia's public testnet ended last month and lasted for 12 weeks. Initia plans to launch the mainnet and conduct TGE in the next two months. On the first day, more than 6 Layer 2s will be launched, and more L2s will be launched in the future.