Umia raises $6.11M in token auction at $18M valuation
What's the deal? UmiaDealroom has a profile for this one. Try Dealroom →, a platform that helps crypto projects issue and govern tokens, has raised $6.11 million through an auction of its own UMIA tokens. The seven-day sale set a fully diluted valuation of $18 million, with 17.3 million tokens sold — about 34.6% of total supply.
Who backed it? Roughly 45% of the funding came from 10 institutional funds, including Galaxy VenturesDealroom has a profile for this one. Try Dealroom →, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11, and Eon CapitalDealroom has a profile for this one. Try Dealroom →. Nearly 700 individual bidders made up the rest.
How it worked. The auction ran from August 26 to September 2 on Base, using Umia's version of UniswapDealroom has a profile for this one. Try Dealroom →'s continuous liquidation auction, with a $2 million minimum target and a $0.36 maximum token price. All tokens sold were unlocked at issuance, with no lock-up period.
Why it stands out. Umia said the funds bought on the same terms as everyone else, with no discounts. "No investors obtained board seats, observer roles, or advisory positions," the company stated, a departure from typical venture structures.
What's the endgame? Umia places each project's intellectual property, operating team, and treasury under a single legal structure tied to its token — rather than scattering them across companies, foundations, and DAOs.
The signal: The raise reflects growing appetite for token-based fundraising that sidelines traditional equity terms. UMIA now trades at roughly $0.68, implying a fully diluted valuation near $34 million — close to double its auction mark.
Read more: cointime.ai
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