Uniswap’s $165 Million Series B Capital Raise One of the Largest by a Crypto Firm in 2022

Uniswap Labs, the steadfast down the Uniswap decentralized speech protocol, announced connected Thursday that it raised $165 cardinal successful a Series B backing round. According to 1 report, the superior raise, which sees Uniswap Labs’ valuation emergence to $1.66 billion, is the largest by immoderate crypto steadfast successful 2022.

Uniswap Completes $165M Capital Raise, Decentralized Exchange Reveals NFT Launch

Uniswap Labs, the creator of the decentralized speech (dex) Uniswap protocol, precocious said it had raised $165 cardinal via a Series B backing round. The backing circular was led by Polychain Capital with the information of the firm’s long-time investors similar Andreessen Horowitz (a16z), Paradigm, SV Angel, and Variant.

In a caller blog post authored by Hayden Adams, the developer and laminitis astatine Uniswap Labs, said that the caller backing volition beryllium utilized to enactment the firm’s enlargement plans. In summation to “bringing the almighty simplicity and security,” Uniswap Labs plans to motorboat non-fungible tokens (NFTs) and to determination into mobile, the blog station said.

Also, successful the blog post, Adams highlights his firm’s unsocial attack and however this makes Uniswap bully astatine what it does. He said:

As Uniswap Labs focuses connected products, a overmuch broader ecosystem continues to turn and thrive beyond what immoderate 1 institution tin bash connected their own. As an example, the governance assemblage precocious voted to make the Uniswap Foundation, which volition lend to the Protocol’s decentralized improvement and springiness astatine slightest $60 cardinal successful grants to assemblage projects implicit the adjacent fewer years.

According to a Techcrunch report, the superior rise saw Uniswap’s valuation emergence to $1.66 billion, frankincense making it the astir important Series B superior rise by immoderate crypto steadfast truthful acold successful 2022.

Statistics from coingecko.com’s decentralized speech (dex) data amusement that Uniswap is the largest dex level today, successful presumption of full commercialized measurement worldwide. At the clip of writing, Uniswap supports 609 crypto tokens, and dex saw $880.67 cardinal successful 24-hour planetary commercialized measurement connected Thursday.

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