Blockchain project Initia completes $14 million Series A financing at a valuation of $350 million, led by Theory Ventures

according to The Block, the blockchain project Initia announced the completion of a $14 million Series A funding round, led by Theory Ventures with participation from Hack VC and others. Angel investors include Keone Hon from Monad Labs, Bryan Pellegrino from LayerZero Labs, and Michael Egorov from Curve Finance.

Initia co-founder Ezaan Mangalji stated that the company began its Series A funding earlier this year and completed the financing in June. The structure of this round is a Simple Agreement for Future Equity (SAFE) with token warrants, which brings Initia's FDV to $350 million.