SAN FRANCISCO, May 19, 2022 /PRNewswire/ -- Saga announced today that it has raised a $6.5 million seed round at a $130 million valuation. Investors in the round include Maven 11, Longhash Ventures, Hypersphere, Figment, Polygon Studios, Samsung NEXT, Chorus One, GSR, C2X, CRIT Ventures, Merit Circle, Hustle Fund, Unanimous Capital, Strangelove Ventures, Tess Ventures, nfr, Akash Network, Zaki Manian, Jae Kwon, Garrette Furo, Alex Shin, Nick Tomaino, Peter Kim & Bo Du (Polymer) and several other angels.

Saga, a protocol for automatically provisioning application-specific blockchains, announced today that it is exiting stealth mode to more actively partner with its developer community on building their own dedicated chains in the multichain metaverse, or multiverse. Previously known as Project Sagan, Saga was founded in late 2021 as an incubated project at Ignite (formerly Tendermint). Saga is one of the first premier projects to successfully exit from Ignite’s incubation program, and the team will be spinning out imminently into its own set of entities to develop and launch the Saga Chain.