PANews reported on June 26 that according to official news, crypto infrastructure Conduit announced the completion of a $37 million Series A financing, led by Paradigm and Haun Ventures. Bankless Ventures, Coinbase Ventures, Credibly Neutral and Robot Ventures and dozens of angel investors such as Hayden Adams and Tim Beiko participated in the investment. The Series A financing will help it continue to expand Ethereum, making it as easy as possible to deploy, expand and build customizable and reliable Rollups for users.
According to reports, Conduit Rollup has a TVL of more than $1.2 billion, processes 20% of transactions on Ethereum, and expands gas usage to more than 15 times the capacity of Ethereum L1. Conduit works with some of the most innovative crypto teams, including Aevo, Zora, Mode, friend.tech, etc. This year, Conduit has promoted the development of the Rollup architecture, working with partners such as Degen and Proof of Play to build an affordable, high-throughput L3.