The on-chain identity verification system Phi Protocol has completed a new round of strategic seed financing.

Golden Finance reported that Phi Protocol announced the completion of a new strategic seed round of financing on the X platform, aiming to build a Decentralization authentication system dedicated to on-chain identity. This round of financing was led by Neoclassic Capital, a global investment company led by Steve Lee and Mike Bucella, and received support from Marc Andreessen (a16z General Partner) and Chris Dixon (a16zCryptocurrency Managing Partner). Decima Fund, CYBER, PAKA fund, and Incubate Fund also participated in this round of financing. This is Phi's second round of financing after the $2 million seed round financing led by ChapterOne and Delphi Digital in 2022.