PANews reported on September 25 that, according to The Block, Initia, a Block chain project, completed a $14 million Series A financing with a valuation of $350 million. The round was led by Theory Ventures, with participation from Delphi Ventures and Hack VC. angel investors include Keone Hon from Monad Labs, Bryan Pellegrino from LayerZero Labs, and others. Initia is developing a Layer 1Block chain and a platform for "interweaving optimistic aggregates" with the aim of building a multi-chain system. Its testnet has completed 125 million transactions, and Mainnet and Token are expected to go live within the next two months.