blockchain

Conduit Raises $37 Million to Develop Blockchain Scaling Solutions

The Big Whale

26 Jun 2024 — 1 min read

Conduit raises $37M to develop blockchain products with Haun Ventures and Paradigm leading.
Funding round includes Robot Ventures, Credibly Neutral, Coinbase Ventures, and Bankless Ventures.
Conduit plans to create customizable rollups for new distributed ledger use cases.
Layer 2 scaling solutions by Conduit aim to speed up on-chain transactions.
Increased transaction speeds open up business opportunities for blockchain developers.
The Block is an independent media outlet with financial disclosures.

Summary :
Crypto infrastructure firm Conduit has raised $37 million in its latest funding round, led by Haun Ventures and Paradigm. The Series A funding round also saw participation from Robot Ventures, Credibly Neutral, Coinbase Ventures, Bankless Ventures, and several angel investors. The funds will be used by Conduit to develop blockchain-based products and services that enable developers to build customizable and reliable rollups. These rollups, or Layer 2 scaling solutions, process transactions away from the underlying networks, reducing congestion and enabling faster on-chain transactions. Conduit believes that these scaling solutions will unlock new business models and opportunities for blockchain developers.

Sources :

- TheBlock

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