Chia Network Inc.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Chia Network Inc. - overview
Established
2017
Location
San Francisco, CA, US
Primary Industry
Software
About
Founded in 2017 and based in California, US, Chia Network Inc develops a cryptocurrency infrastructure utilizing unused space on hard drives. Bram Cohen, Gene Hoffman, Ryan Singer are the co-founders of the company. In May 2021, the firm raised USD 61 million in Series D funding co-led by Richmond Global Ventures including Andreessen Horowitz, Breyer Capital, and Cygni Capital. Chia provides Chialisp, a smart transaction programming language that is powerful, easy to audit, and secure.
It makes cryptocurrency easier to use than cash. The company's Green Paper details a new consensus algorithm called Proofs of Space and Time, PoST which replaces the Proof of Work that wastes massive amounts of energy and is less secure against mining centralization. The firm will use the May 2021 funding for hiring and to become a payment method for financial services firms, the government, and other institutions.
Current Investors
DCM, Greylock Partners, True Ventures
Primary Industry
Software
Sub Industries
e-Financial, Accounting/Finance Software
Website
www.chia.net
Verticals
Blockchain, FinTech
Company Stage
Series D
Total Amount Raised
Subscriber access only
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.