HTX Ventures Backs Monad Labs’ Vision for Scalable Blockchain with $225 Million Series A Funding

Singapore — HTX Ventures continues its stride towards shaping the future of blockchain technology with a strategic investment in Monad Labs, a trailblazing force behind the development of the high-performance Monad blockchain. This investment reaffirms HTX Ventures’ steadfast dedication to fostering innovation within the Web3 landscape and supporting initiatives aimed at overcoming critical challenges within the industry.

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At the heart of this collaboration lies the Monad blockchain, a cutting-edge Layer-1 platform renowned for its innovative rearchitecture of the Ethereum Virtual Machine (EVM). Designed to tackle Ethereum’s throughput limitations, Monad aims to empower decentralized applications (DApps) for widespread adoption.

Promising Ethereum’s versatility combined with Solana’s efficiency, the Monad blockchain boasts impressive features such as over 10,000 transactions per second, 1-second block times, and immediate finality, all while ensuring full backward compatibility with EVM and essential Ethereum infrastructure.
Monad Labs, founded by former members of the renowned traditional finance giant Jump Trading, recently secured $225 million in Series A Funding, valuing the company at $3 billion.
This substantial investment underscores the confidence in Monad’s vision to establish a scalable smart contract distributed ledger.

“Monad is driven by a great team with a strong understanding of market mechanisms and connectivity,” remarked Edward, Managing Partner at HTX Ventures. “Their go-to-market strategies and tactics are similar to Solana, demonstrating a savvy approach to blockchain innovation. Our investment underscores our commitment to supporting smart teams like Monad Labs, who are driving big changes in the Web3 ecosystem.”

“We are thrilled to partner with HTX Ventures,” said Keone Hon, Co-founder and CEO of Monad Labs. “Their track record of supporting the growth of decentralized technologies, and their strong relationships across the space, make them an ideal partner for our team. We can definitely learn a lot from collaboration.”

Looking ahead, the Monad blockchain is poised for significant milestones, with the launch of a testnet scheduled in the coming months and mainnet deployment planned later this year. Utilizing a proof-of-stake consensus mechanism and remaining Ethereum Virtual Machine (EVM)-compatible, Monad will enable seamless interaction with the Ethereum network, facilitating interoperable decentralized applications.

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About Monad Labs

Monad Labs, established in 2022, is a venture-backed tech startup dedicated to pioneering advancements in blockchain technology. Rooted in the expertise of its co-founders with backgrounds in Jump Trading, Monad Labs leverages insights from high-frequency-trading (HFT) systems to develop a performant and robust smart-contract blockchain. Their multidisciplinary approach encompasses low-latency programming, compiler optimization, systems engineering, cryptography, and graph theory, driving significant improvements in decentralized computation.

About HTX Ventures

HTX Ventures, the global investment arm of HTX, stands at the forefront of identifying and nurturing groundbreaking projects within the blockchain sector. With a decade-long legacy of industry leadership, HTX Ventures leverages its expertise in investment, incubation, and research to support innovative technologies and emerging business models. Backed by a diverse portfolio of over 200 projects across multiple blockchain sectors, HTX Ventures collaborates with leading global blockchain funds to drive ecosystem growth and foster innovation within the industry.

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