Layer1 blockchain Linera announced the completion of a $12 million seed round of financing, led by a16z, with participation from Cygni Capital, Kima Ventures and Tribe Capital.

It is reported that Mathieu Baudet, founder and CEO of Linera, is a former Meta employee who helped create the Libra blockchain. The Linera blockchain has characteristics such as low latency and linear scalability. It consists of shards or a single thread, and adds additional validators to improve network efficiency, enabling most account-based operations to be confirmed within a fraction of a second.