Delphi Labs COO questions Octra's $200 million valuation funding round; co-founder responds that they already have complete technology and operational network support.

Odaily reports that Kevin Simback, COO of Delphi Labs, recently publicly questioned the rationale behind privacy blockchain project Octra launching a new round of financing at a valuation of $200 million. He stated that Octra only completed an early-stage financing round last year with $4 million in Pre-seed funding, at which time its valuation was around $40 million. Now, its valuation has increased more than fivefold in a year, and with only months left until TGE, there is "almost no real demand."

In response, Octra co-founder Alex stated that he did not know Kevin Simback. He emphasized that Pre-seed's low valuation was due to the team only having a white paper and initial concept at the time, representing a typical risk premium; however, the project has now completed sandbox testing, possesses complete mathematical documentation, an open-source PoC, and a fully functional network that has been running stably for several months, thus justifying the increased valuation.

Previous news: Octra Labs announced a $20 million public token sale at a $200 million valuation.