Chia Raises $5M in Funding Round Led By Slow Ventures

By Abhimanyu Krishnan | News | 12 Aug 2020


Smart transaction platform Chia Network has raised $5 million in a round of funding led by Slow Ventures, according to Coindesk. Chia Network is aiming to be a more efficient and secure version of popular digital currencies.

  • Chia Network uses a “smart transaction programming language that is powerful, easy to audit, and secure”
  • Uses Proof of Space and Time instead of Proof of Work
  • Fund will be used to build the team
  • Co-founded by BitTorrent creator Bram Cohen and Ryan Singer in 2017
  • Investors include Andreessen Horowitz, Naval Ravikant, Galaxy Investment Group, True Ventures and DCM
  • Chia has raised a total of $16 million
  • Mainnet launch scheduled for later in 2020

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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