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Monad Labs raises $225 million in funding round led by Paradigm

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Coinbase Ventures, Electric Capital and Greenoaks also participated in the round, as Monad seeks to build out its Layer 1 blockchain.

Monad Labs, the developer behind the Ethereum-compatible Layer 1 blockchain Monad, has finalized a $225 million funding round led by investment firm Paradigm.

The announcement follows the news last month that Monad was eyeing a more than $200 million fundraising round as investors warm toward the digital assets industry after crypto winter. Monad Labs previously raised $19 million in funding led by Dragonfly Capital following a $9 million pre-seed round in May 2022 and a $10 million seed round in December 2022.

Source: Digital Coin News (digitalcoinnews.net)

 

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