# Chia Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chia-network

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.chia.net
- Total disclosed funding: $62M
- Latest round: Series D (May 24, 2021)
- Investors on record: 12

## 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.

## Funding rounds

- Series D, May 24, 2021, $61M — True Ventures, Andreessen Horowitz, Richmond Global Ventures, Collaborative Fund, Slow, DHVC, Breyer Capital, Cygni Capital
- Seed, Jul 9, 2018, $0.3M — Cypherpunk Holdings
- Seed, Mar 26, 2018, $0.8M — DCM, Greylock Partners, True Ventures, Andreessen Horowitz, DHVC, MetaStable Capital

## Investors

- DCM (https://capitalatlas.ai/funds/dcm) — Seed
- Greylock Partners (https://capitalatlas.ai/funds/greylock-partners) — Seed
- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Seed, Series D
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed, Series D
- DHVC (https://capitalatlas.ai/funds/dhvc) — Seed, Series D
- MetaStable Capital — Seed
- Cypherpunk Holdings (https://capitalatlas.ai/funds/cypherpunk-holdings) — Seed
- Richmond Global Ventures (https://capitalatlas.ai/funds/richmond-global-ventures) — Series D
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Series D
- Slow (https://capitalatlas.ai/funds/slow) — Series D
- Breyer Capital (https://capitalatlas.ai/funds/breyer-capital) — Series D
- Cygni Capital (https://capitalatlas.ai/funds/cygni-capital) — Series D