Umia raises $6 million through token auction
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- Umia raised $6 million through an auction of its UMIA token.
- Ten funds and nearly 700 individual bidders joined the seven-day sale on Base.
- The platform plans to launch its first external projects in Q4 2026.
Umia has raised $6 million through a Base auction of its UMIA token.
Ten funds and nearly 700 individual bidders participated in the seven-day sale.
“Umia's auction mechanism pairs the two: a clearing process that treats funds and individuals identically, and a legal and treasury framework that gives the token a defined relationship with the project behind it,” Galaxy Ventures Investor James Kibbie said in a statement.
The public round reached its $2 million cap seven minutes after opening.
The sale closed at more than three times its $2 million minimum.
Umia places its intellectual property, operating team and treasury within one legal structure.
Its first decision market allocated $4.77 million of treasury USDC to lending protocols on Base.
Umia plans to use the funding to develop its platform and launch external projects in Q4 2026.
