TechFlow News, April 9 — HTX Ventures announced a strategic investment in Monad Labs. The collaboration aims to drive innovation within the Web3 ecosystem. Monad Labs raised $225 million in this funding round at a $3 billion valuation, led by Paradigm, with participation from HTX Ventures, Electric Capital, Castle Island Ventures, and other investment firms.
Monad Labs is a tech startup founded by former members of traditional finance giant Jump Trading, building a scalable smart contract distributed ledger. The company is developing a Layer-1 blockchain to compete with platforms like Solana and Sui. The Monad testnet is set to launch in the coming months, with mainnet deployment planned for later this year.
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