Linera Community Round Public Offering Raises Only $152,824 in Nearly 4 Days

Since the Linera community round public offering began on September 1 at 14:00 UTC, nearly 4 days have passed, and only $152,824 has been raised. Compared to the maximum fundraising cap of $8 million, the current progress is less than 2%; it is also far from the minimum target of $3.2 million, indicating a lackluster market response, with community interest falling short of expectations. The public offering will continue until September 8 at 14:00 UTC. On August 16, 2023, Linera completed a $6 million financing round led by Borderless Capital, with funds intended to expand the team, launch the development and test networks, and cultivate strategic influence in the Asia-Pacific region. On June 29, 2022, Linera announced the completion of a $6 million seed round financing led by a16z, with participation from Cygni Capital, Kima Ventures, and Tribe Capital, planning to use the funds to hire engineers and team members to build the protocol.

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