We’re excited to share that Conduit has raised a $37M Series A led by Paradigm and Haun Ventures.
This investment round represents a milestone for our company, as well as the deepening of our relationship with Paradigm and the beginning of a new one with the team at Haun Ventures. As part of this round, Haun's Chris Ahn will join Conduit's board of directors, alongside Georgios Konstantopoulos from Paradigm. We couldn’t ask for better partners as we bring onchain compute to the masses.
Most importantly, our Series A will help us continue scaling Ethereum by making it as easy as possible to deploy, scale, and build on your own customizable and reliable rollup.
A Rollup-Native Cloud Platform
Building scalable onchain apps on Ethereum and other general-purpose chains can be hard — gas fees are too high, gas limits too low, and congestion from the latest mint or airdrop can make your app unusable. Rollups fix this, but they used to be difficult to deploy, operate and maintain. Production-grade rollups took dedicated teams, millions of dollars, and thousands of engineering hours. That was before Conduit.
On Conduit, you can deploy your own rollup in minutes. Pick from leading frameworks like the OP Stack and Arbitrum Orbit, and customize your rollup stack with the latest modular blockchain solutions. Deployment is just the beginning, we work closely with our rollup teams and the teams building the underlying technologies to ensure that Conduit chains get the latest upgrades and early access to new features.
Today, Conduit rollups secure over $1.2 billion in total value locked (TVL), process 20% of transactions on Ethereum, and scale gas usage 15x higher than Ethereum L1’s capacity. We’re grateful to work with some of the most innovative teams in crypto, including Aevo, Zora, Mode, friend.tech, and more. This year, Conduit led the push beyond standard rollup architectures, working alongside partners like Degen and Proof of Play to build affordable, high-throughput L3s.
High-performance rollups aren’t just about helping builders run their existing projects more efficiently, though that is a key benefit. By making onchain compute abundant and cheap, these new scaling solutions make never-before-seen business models possible. Consider a blockchain gaming network like Proof of Play, which is currently doing more computational work per second than any other rollup in order to provide players with a fun, seamless experience — that wouldn’t be possible if Proof of Play weren’t deployed as an L3 on Arbitrum. Conduit’s scaling infrastructure, along with our self-serve model that enables fast and frictionless deployment, is helping a new generation of onchain solutions flourish, similar to what AWS did more than a decade ago in Web 2.
We’re facilitating similar innovations not just in gaming, but in all areas of the onchain economy:
DEXs like Aevo and Lyra use Conduit to provide decentralized trading experiences with the speed of centralized orderbooks, pushing billions in trading volume
Consumer apps like friend.tech use Conduit to bring Web 2 social experiences to crypto
DeFi ecosystems like Mode use Conduit to facilitate the high enough throughput for dApps to seamlessly handle congestion-heavy events like airdrops
Settlement layers like Orderly Network use Conduit to pioneer new onchain clearinghouse models that require massive data throughput
NFT ecosystems like Zora use Conduit to make minting an NFT as cheap and easy as possible, giving creators new ways to monetize their work
No matter what you’re building onchain, Conduit’s rollup-native cloud platform enables you to solve your biggest infrastructure and scaling challenges, so that you can focus on building your place in crypto.