Last Updated on May 26, 2021 by Jason
Chia Network, which is a money platform for programming started by the founder of BitTorrent, Bram Cohen, has managed to raise $61 million in funding. The funding round was led by Richmond Global Ventures, and Andreessen Horowitz.
This means that Chia is now valued at $500 million, which is double what it previously was. For a number of years now, Cohen has been hinting at taking the company public. It is currently based in San Francisco.
The business says that it is going to use the funds for hiring, and to enable a payment method for financial services companies and governments.
David Frazee plans on joining Chia’s board, who is already managing partner of Richmond Global Ventures. He put forward his own money in the fundraiser.