According to The Block on September 25, the blockchain project Initia completed a $14 million Series A financing, with a valuation of $350 million. This round of financing was led by Theory Ventures, with participation from Delphi Ventures and Hack VC. Angel investors include Keone Hon of Monad Labs and Bryan Pellegrino of LayerZero Labs. Initia is developing a Layer 1 blockchain and a "interwoven optimistic rollup" platform, aiming to build a multi-chain system. Its testnet has completed 125 million transactions, and the mainnet and tokens are expected to be launched in the next two months.