Posted 4/9/2024, 4:49:42 PM
Monad Labs Raises $225M as Investors Bet on Its High-Speed Ethereum Alternative
- Monad Labs raised $225 million in funding, the largest crypto raise so far in 2023, led by Paradigm and supported by Electric Capital and Greenoaks
- Monad is an Ethereum-compatible layer-1 network aiming to be a fast, affordable alternative to Ethereum and Solana for DeFi
- It uses a parallelized Ethereum Virtual Machine (EVM) to try to achieve much higher throughput than existing chains
- Investors are excited by Monad's potential to unlock a 100x improvement in EVM ecosystem throughput
- Monad previously raised a $19 million seed round in early 2023 led by Dragonfly Capital
