TechFlow news: Layer 1 blockchain Monad Labs has announced the completion of a $225 million funding round led by Paradigm, with participation from SevenX Ventures, Electric Capital, Pivot Global, Castle Island Ventures, Greenoaks, eGirl Capital, Amber Group, Animoca Ventures, Archetype, Bankless Ventures, Big Brain Holdings, Bodhi Ventures, Breed, Caladan, CMS Holdings, Coinbase Ventures, CoinFund, DBA, Figment Capital, Flow Traders, Galaxy, GSR Ventures, Hailstone Labs, Hermeneutic Investments, HTX Ventures, IOSG Ventures, Makers Fund, Manifold Trading, Merit Circle, Mirana Ventures, Nascent, Presto Labs, Rebirth Ventures, Robot Ventures, Superscrypt, Wintermute Ventures, and others.
Angel investors include Inversebrah, Ansem, Hsaka, punk6529, Saquon Barkley, Eric Wall, Rune Christensen, Bryan Pellegrino, Robinson Burkey, Luca Netz, Mert Mumtaz, and Shoku.
Reportedly, Monad is a high-performance Layer-1 blockchain that introduces parallel execution and superscalar pipelining to the EVM. The project aims to build a first-layer blockchain capable of competing with rivals such as Solana and Sui.
Keone Hon, founder of the company, stated that Monad's innovation lies in rebuilding the Ethereum blockchain to enable faster speeds, higher transaction throughput, and lower costs for executing smart contracts, while maintaining compatibility with Ethereum programs.
