IDEO-backed cryptocurrency developer Chia Network has pushed its valuation to $500m thanks to a $61m round co-led by Andreessen Horowitz and Richmond Global Ventures.

Chia Network, a US-based blockchain technology developer backed by design consultancy IDEO, has raised $61m in a funding round co-led by Richmond Global Ventures and Andreessen Horowitz, Bloomberg reported today.

Breyer Capital, Slow Ventures, True Ventures, Cygni Capital, Collab+Currency, DHVC and private investor Naval Ravikant also took part in the round, which valued Chia at approximately $500m, a person familiar with the matter told Bloomberg.

Chia Network is developing a blockchain and smart transaction platform using a proprietary cryptocurrency called…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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