On April 30th, Kaia Foundation announced in a post on X that it has secured investment from top crypto venture capital firms, with Blockchain Capital and 1kx leading the round. Other participating institutions include Galaxy, The Spartan Group, IDG Capital, Mirana Ventures, SNZ Holding, Comma3 Ventures, Caladan, Lingfeng Capital, Waterdrip Capital, and MEXC Ventures, among others. The specific investment institutions have not been disclosed yet.

Kaia was formed by the merger of Klaytn and Finschia blockchains initially developed by Kakao and LINE, respectively. It has the lowest transaction latency in EVM L1, with a block time of 1 second and instant finality, enabling smooth user experience and opening up possibilities for use cases that require near real-time responsiveness.