Blockchain Platform Chia Raises $61M From a16z
Chia Network, a programmable money platform created by BitTorrent founder Bram Cohen, has raised $61 million in Series D funding. Venture capital giants Andreessen Horowitz (a16z) and Richmond Global Ventures led the funding round. Chia now has a valuation of about $500 million, according to an unnamed source, more than double the company's previous valuation. Richmond Global Ventures managing partner David Frazee will join Chia’s board, according to the report. He invested individually in the firm. A16z first invested in Chia in 2018.