⚡ a16z-Backed Linera Shuts Down Over Funding
Linera is shutting down immediately, citing insufficient funding to keep operating. Its token sale on Sonar drew nearly $900K in commitments but missed the minimum threshold, so all contributions were refunded, and a last-ditch emergency funding push also failed.
Founded by ex-Meta researcher Mathieu Baudet, Linera raised about $12M across two rounds in 2022–2023, backed by a16z, Borderless Capital, GSR, Matrixport Ventures, and Flow Traders.
Linera is shutting down immediately, citing insufficient funding to keep operating. Its token sale on Sonar drew nearly $900K in commitments but missed the minimum threshold, so all contributions were refunded, and a last-ditch emergency funding push also failed.
Founded by ex-Meta researcher Mathieu Baudet, Linera raised about $12M across two rounds in 2022–2023, backed by a16z, Borderless Capital, GSR, Matrixport Ventures, and Flow Traders.
