Initia Emerges from Stealth Mode with Pre-Seed Funding from Binance Labs Initia, a network designed for highly interconnected modular rollups,
has come out of stealth mode with a significant pre-seed investment from Binance Labs, the venture capital and incubation arm
of Binance.
Initia’s platform, built on
Cosmos (ATOM) as a Layer 1 (L1) network, combines application-specific Layer 2s (L2) using Optimistic rollups
to give developers a better way to create scalable and autonomous multi-chain systems.
The funds obtained through the investment will go towards bolstering the growth of Initia's infrastructure, enhance its product tools, and support the incubation of key application layer projects, the team said.
The exact amount of the investment has not been disclosed.
According to Initia, the platform’s architecture,
encompassing L1, L2, and communication layers, empowers developers to easily launch application-specific blockchains as
Initia L2s, without requiring an in-depth understanding
of complex blockchain infrastructure or validator sets.
