Kuru Labs, a decentralized finance (DeFi) startup built on the Monad blockchain, has closed an $11.6 million Series A funding round led by crypto-focused investment firm Paradigm.

The raise will help create a central-limit orderbook (CLOB) combined with automated market-making capabilities for Monad, a super-fast version of Ethereum, which was also backed by Paradigm in a $225 million raise last year.