Umia raises $6.11 million through UMIA token auction, FDV reaches $18 million

PANews reported on October 7, citing The Block, that Umia, a token issuance and governance platform for crypto projects, raised $6.11 million in a 7-day UMIA token auction, selling 34.6% of the total supply at a fully diluted valuation (FDV) of $18 million. About 45% of the subscription funds came from institutional investors, with 10 funds and nearly 700 individual bidders participating. Investors included Galaxy Ventures, DCG, Draper Associates, and others. Umia provides legal structures, on-chain auctions, and governance tools for crypto projects, and its first external project, Slop.cash, is expected to launch in Q4 2026.