TechFlow news — On July 25, according to The Block, Kuru, an on-chain order book exchange built on Monad, announced a $2 million seed funding round led by Electric Capital. Additional participants in the round include Brevan Howard Digital, CMS Holdings, Pivot Global, Breed, and Velocity Capital, along with prominent angel investors Keone Hon, Jarry Xiao, and Eugene Chen.
Kuru claims to be the first fully on-chain order book DEX on Monad, offering users a single platform to discover, research, and trade on-chain spot assets. Leveraging Monad's high throughput and fast block times, the platform aims to deliver superior capital efficiency and tighter liquidity.
Co-founder Vaibhav Prakash stated that Kuru aims to completely replace AMMs by supporting both liquid and long-tail assets, while simplifying the process of providing liquidity. Kuru also plans to use the new funds to expand its team and prepare for audits ahead of the Monad testnet launch. Keone Hon, CEO of Monad Labs, emphasized that Kuru will help close the execution gap between DEXs and centralized exchanges, delivering a better user experience.
