Kuru Labs, a startup focused on decentralized finance (DeFi) on the Monad blockchain, has successfully secured $11.6 million in Series A funding, with Paradigm as the lead investor.

This funding is aimed at establishing a central-limit orderbook (CLOB) integrated with automated market-making functionalities for Monad, a blockchain that boasts high-speed transactions.

Previously, Paradigm had also been instrumental in another substantial financing event for Monad, heading up a $225 million funding round last year. According to Kuru Labs, their objective is to engineer a premier liquidity hub for Monad, thereby bringing a sophisticated CLOB to the Ethereum Virtual Machine (EVM) for the first time. They state, “Kuru Labs is dedicated to building the premier liquidity hub for Monad, bringing a performant central-limit orderbook to the EVM for the first time along with integrated discovery and trading terminal, user liquidity provision, and token launchpad.”

In addition to Paradigm, numerous angel investors participated in this round, including notable figures such as Viktor Bunin from Credibly Neutral, and Tristan Yver, among others.

The successful completion of this funding aims to advance Kuru’s capability of delivering a hybrid integrated CLOB-AMM model designed to enhance liquidity accessibility across the entire ecosystem.