Blockchain platform Initia announced the closing of a $7.5 million funding round co-led by Delphi Ventures and Hack VC, Nascent, Figment Capital, Big Brain and A. Capital, as well as anonymous Crypto Assets traders Cobie, DCF God, Split Capital co-founder Zaheer Ebtikar, Fiskantes and WSB Mod, angel investors including Nick White, COO of Celestia, participated.
Initia is an application-specific L2 on Cosmos L1 that leverages OP rollups. With Initia's architecture, including L1, L2, and communication layers, developers can easily launch application-specific Blockchain based on Initia L2 without having to understand complex chain-level infrastructure or run validator sets. (TheBlock)