[Funding alert] NYC-based Monad Labs Secures $225Million in Series A Round Funding

Monad Labs core developers behind layer 1 blockchain Monad secures $225million in series A round funding. Leading the round was Paradigm, with support from investors Greenoaks and Electric Capital.

founded in 2022 by Eunice Giarta, a former MIT Media Lab researcher and product lead at Shutterstock and Broadway Technology, along with Jump Trading alumni Keone Hon and James Hunsaker.

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The Monad Blockchain, being developed by Monad, is in competition with Solana and Sui. In addition to the Ethereum Virtual Machine, which enables developers to transfer over programmes created on Etherum, it offers 10,000 transactions per second.

Charlie Noyes, Partner at Paradigm, said: “Monad is scaling all aspects of EVM performance by enabling developers to build next generation applications that will significantly expand the crypto ecosystem. Keone, James, and Eunice are uniquely equipped both to build the technology and to create a vibrant community to support it. Paradigm is excited for a long-term partnership with the entire Monad team.“

About Monad Labs

They are developing the Monad blockchain, a layer-1 blockchain with extremely high performance that is compatible with EVMs and aims to increase global adoption of decentralised applications. By facilitating parallel execution and other noteworthy advancements in distributed consensus and smart contract execution, they contribute to the EVM’s scalability.