Monad Labs, the developer behind the Ethereum-compatible Layer 1 blockchain Monad, has finalized a $225 million funding round led by investment firm Paradigm.

“We are thrilled to announce our $225 million fundraise,” Monad said. “This funding milestone gives us ample resources to continue scaling our team and to bring Monad to production.”

Electric Capital, Coinbase Ventures, Castle Island Ventures, GSR Ventures and Greenoaks also participated in the round, among others. Angel investors include Inversebrah, Ansem, Hsaka, punk6529, Eric Wall, Rune Christensen, Bryan Pellegrino, Luca Netz, Mert Mumtaz, and others, Monad confirmed.

The announcement follows the news last month that Monad was eyeing a more than $200 million fundraising round as investors warm toward the digital assets …