Chia Network Raises $61M in Series D Funding

Chia Network, Inc., a San Francisco CA-based provider of smart transiction platforms, raised $61M in series D funding.

The round was led by Richmond Global Ventures and Andreessen Horowitz, with participation from True Ventures, Slow Ventures, Cygni Capital, Breyer Capital, Naval Ravikant, Collab+Currency and DHVC. As a part of that transaction, David Frazee from Richmond Global Ventures will join Chia’s board.

The company intends to use the funds to expand operations and its business reach.

Founded by CEO Bram Cohen and COO Gene Hoffman, Chia provides a decentralized blockchain powered open-source decentralized blockchain, digital currency and smart transaction platform. The company’s network aims to power monetary, financial and commercial applications by streamlining secure and auditable cross border payments, smart contracts and financial transactions as well as by facilitating lending, escrow payments, institutional custody and distributed identity.