Monad Labs, a Chicago, IL-based startup advancing and supporting the Monad blockchain, raised USD19M in Seed funding.
The round was led by Dragonfly Capital with participation from 70 investors, including Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, as well as notable angel investors in the space such as Naval Ravikant, Cobie, and Hasu.The company intends to use the funds to develop its ecosystem.Founded in 2022 and led by CEO Keone Hon, and CTO James Hunsaker, Monad Labs leverages its Monad blockchain, an Ethereum Virtual Machine (EVM)-compatible Layer1 smart contract platform designed to provide many multiples of the throughput offered by Ethereum to advance the performance and scalability of decentralized computation. Its blockchain operates on a Proof of Stake consensus protocol and, by design, is set to process a total of 10,000 transactions per second. 14/02/2023
