On June 10, Kuru Labs, a decentralized exchange (DEX) built on the Layer 1 Monad blockchain, raised $11.5 million in a Series A round. Leading the round was the renowned investment fund Paradigm. In addition, many prominent angel investors also participated, such as 0xDesigner, Viktor Bunin, Zagabond, Tristan Yver, Kevin Pang, Will Price, Alex Watts, Jordan Hagan, 3nes, Shreyas Hariharan, Auri, and Joe Takayama. Previously, Kuru Labs raised about $2.2 million in a seed round.
Kuru Labs is developing an advanced trading model called “hybrid CLOB-AMM”, combining two popular mechanisms in the traditional finance and DeFi fields: Central Limit Order Book (CLOB) and Automated Market Maker (AMM). With this hybrid model, Kuru Labs hopes to optimize the trading experience, improve liquidity and order matching efficiency, and expand compatibility between traditional and decentralized trading methods.
Kuru Labs’ completion of a Series A funding round of up to 11.5 million USD shows the strong development potential of the project, especially in the context of new Layer 1 solutions such as Monad attracting great attention from the developer community and venture capital funds in the Web3 ecosystem.
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