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Initia Foundation, a new network focused on simplifying interoperability through interwoven rollups, has successfully raised $14 million in a new financing round. The project, co-founded by Zonny, is scaling to meet a new valuation of $350 million. Additionally, Initia completed a $2.5 million community round in under two hours through Cobie's Echo, with over 800 participants. This community round, the first deal in The Echonomist, was a token purchase agreement at a $250 million valuation, which represents a 28.57% discount to the Series A valuation.
Scoop: @initiaFDN raised $2.5M in under 2 hours via @cobie’s Echo, two sources told The Block. The fundraise was a token purchase agreement at a $250M valuation, a 28.57% discount to Initia’s $350M Series A valuation. 'Cheers, Yogie' ~ @cobie 👀 https://t.co/nzFTsPfXww
Initia will be majority owned by you. We are stoked to announce the completion of Initia's $2.5M Community Round — the first deal in The Echonomist, @echodotxyz's very own community venture group. With over 800 participants, the round closed in just under two hours! https://t.co/kS9xdSUtEX
EXCLUSIVE: Initia raises $2.5 million in under 2 hours on Cobie's Echo at $250 million token valuation https://t.co/I2lZAVZ7FJ