Initia is a blockchain project developing a Layer 1 network and a system of interwoven optimistic rollups. According to Initia’s documentation, the architecture is built around three components: the Initia L1 base layer, a network of Layer 2 rollups built on top of it, and the Interwoven Stack, a framework for building those rollups and applications. In February 2024, The Block reported that Initia raised $7.5M in a seed round co-led by venture capital firms Delphi Ventures and Hack VC, with participation from Nascent, Figment Capital, Big Brain, and A.Capital. In September 2024, The Block reported that Initia raised an additional $14M in a Series A round led by Theory Ventures, also with participation from Delphi Ventures and Hack VC, bringing Initia’s total funding to $22.5M and its fully diluted token valuation to $350M. Visit the #BlockchainThursday link in our bio to learn more. #Web3 #MultiChain #BCT