Kuru Labs Secures $11.5M Seed Funding for Innovative Hybrid DEX Platform
Kuru Labs Secures $11.5 Million in Series A Funding to Enhance Hybrid Decentralized Exchange
Overview of the Funding Round
Kuru Labs, an innovative crypto startup, has successfully raised $11.5 million in a Series A funding round, spearheaded by Paradigm. This significant investment aims to expedite the development of their unique hybrid decentralized exchange platform.
Previous Funding and Investor Participation
In July 2024, Kuru Labs had previously secured $2.2 million in a seed funding round, led by Electric Capital. The latest funding round saw contributions from a diverse group of angel investors, including notable names such as 0xDesigner, Viktor Bunin, and others, showcasing strong interest from the crypto community.
Development of a Hybrid Exchange Platform
The fresh capital will be directed towards advancing Kuru Labs’ hybrid decentralized exchange, which integrates centralized limit ordering with automated market making (AMM). This platform is being constructed on Monad, a high-performance layer-1 blockchain that is compatible with Ethereum.
The Hybrid CLOB-AMM Model
Kuru Labs is pioneering a “hybrid CLOB-AMM model,” which merges the traditional central limit order book (CLOB) with the popular AMM architecture. This innovative approach aims to enhance functionality within the crypto trading space. According to co-founder Vaibhav Prakash, this model ensures that every order book is paired with a default market maker that employs AMM strategies, thereby providing consistent liquidity for traders.
Advantages of the New Model
Prakash emphasized that while the pricing may not always be optimal due to the AMM nature, the platform offers the unique advantage of allowing users to place limit orders directly. This flexibility means that Kuru Labs can operate without relying on traditional market makers, streamlining the trading process.
Paradigm’s Role and Expertise
Prakash highlighted Paradigm as an ideal lead investor, noting their extensive experience in supporting on-chain exchanges. Their previous investments in projects like Ellipsis Labs and Uniswap demonstrate a deep understanding of market dynamics and microstructure, making them well-suited to guide Kuru Labs in its growth journey.
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