Summary:
- Kuru, an on-chain order book exchange built on Monad, secured $11.6M in Series A funding.
- The funding round was led by Paradigm with participation from various angel investors in the DeFi and crypto infrastructure space.
- Kuru Labs aims to use the funds to grow its team and further develop its liquidity hub for Monad.
Article:
Kuru Raises $11.6M in Series A Funding for On-Chain Order Book Exchange
Kuru, a decentralized on-chain order book exchange built on the Monad platform, recently announced the successful closing of its Series A funding round, raising a total of $11.6 million. The funding was led by Paradigm, a prominent player in the cryptocurrency space, and saw participation from several angel investors with expertise in decentralized finance (DeFi) and crypto infrastructure.
Among the notable angel investors who contributed to the funding round are Viktor Bunin (Credibly Neutral), Zagabond, Tristan Yver, Alex Watts, and Jordan Hagan, to name a few. This strong backing from seasoned investors highlights the potential and promise of Kuru’s innovative approach to liquidity provision and trading.
With the fresh infusion of capital, Kuru Labs, the team behind the exchange, plans to ramp up its development efforts and expand its team. The company’s vision is to create a robust liquidity hub for Monad, offering a central-limit order book (CLOB) integrated with a trading terminal, user liquidity provision services, and a token launchpad. Powered by Monad’s decentralized network, Kuru aims to streamline liquidity across the ecosystem through a hybrid CLOB-automated market maker (AMM) model that emphasizes composability and democratizes access to liquidity provisioning.
Overall, Kuru’s Series A funding round marks a significant milestone for the company as it positions itself as a key player in the evolving DeFi landscape. The team is excited about the opportunities ahead and is committed to delivering innovative solutions that drive liquidity and trading efficiency within the crypto space. Stay tuned for updates on Kuru’s progress as they continue to make waves in the world of decentralized finance.
