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Chia raises $61M for ‘eco-friendly’ crypto despite critics

Blockchain startup “Chia Network” has raised $61 million in a funding round which included investment from top venture capital firms Andreessen Horowitz and Richmond Global Ventures.

The decentralized smart contract platform was valued at around $500 million in the funding round, according to an anonymous source cited by Bloomberg. The funding round was also backed by the CEO and co-founder of AngelList Naval Ravikant, Breyer Capital, and True Ventures.