Delphi Labs COO questions Octra's $200 million valuation in fundraising; co-founder responds that there is already a complete technology and operational network in place.
ChainCatcher reported that Kevin Simback, Chief Operating Officer of Delphi Labs, recently publicly questioned the rationale behind the privacy chain project Octra launching a new round of financing at a $200 million valuation. He stated that Octra only completed early-stage financing last year with a $4 million pre-seed round, at that time with a valuation of around $40 million. Now, within just one year, the valuation has increased more than fivefold, and with only a few months left before TGE, there is "almost no real demand."
In response, Alex, co-founder of Octra, said that he does not know Kevin Simback. He emphasized that the low pre-seed valuation was because the team only had a white paper and initial concept at that time, which is typical of risk premium; now, however, the project has completed sandbox testing, possesses a complete mathematical document, an open-source PoC, and has launched a fully functional network that has been running stably for several months, so the increase in valuation has a reasonable basis.
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