Decentralized Exchange Kuru Labs Raises $11.5 Million in Funding Led by Paradigm

Foresight News reports, according to The Block, that the decentralized exchange Kuru Labs, built on Monad Layer 1, has completed a $11.5 million Series A funding round led by Paradigm, with participation from angel investors including 0xDesigner, Viktor Bunin, Zagabond, Tristan Yver, Kevin Pang, Will Price, Alex Watts, Jordan Hagan, 3nes, Shreyas Hariharan, Auri, and Joe Takayama. Previously, the company had raised approximately $2.2 million in seed funding.

Kuru utilizes a "hybrid CLOB-AMM model," combining the automated market maker (AMM) functionality common in cryptocurrencies with the central limit order book (CLOB) architecture of traditional exchanges to achieve a new level of functionality.